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Research Article

ECONOMIC VALUATION OF ECOSYSTEM SERVICES: DISCUSSION AND APPLICATION

Pages 349-374 | Published online: 09 Mar 2002

REFERENCES

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  • CV is used as an abbreviation for compensating variation. Some authors also use CV as an abbreviation for the “contingent valuation” method, which is a survey-based approach for measuring the value of nonmarket goods and services (discussed in detail later in this paper). Given the potential confusion, I advocate the use of the abbreviation CVM to indicate the contingent valuation method
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  • I simplify a little and assume that there is only one citizen of Little City and thus her utility function is representative of all of the individuals in Little City. Thus the people of Little City is an individual, which is consistent with the earlier discussion of economics being based on the individual as the “unit” of choice
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  • This section draws heavily from Bishop et al.38 This document and a series of reports on other related studies on the Green Bay NRDA can be found at http://midwest.fws.gov/nrda/
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  • The dollar values presented also differ across, and often within, each choice pair and survey version. This allows for the calculation of the monetary value of PCB-caused losses and for the natural resource enhancements considered as a secondary objective of the study
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