How can the recreational economic data be used to value environmental damages?
There are two components of value lost when there is an oil spill or some other environmental damage: use value and non-use or existence value. Our valuation models quantify the value of recreational access, which is a large part of the use value when a spill shuts down a beach or other coastal area. Often, our data is the only periodically collected data available to look at use values.
Related Questions
- Each Industry commodity bought or sold has a preferred interchange data element. How/when is this preferred interchange value used?
- When should the expenditures impact be used to evaluate a project and when should the economic value (MWTP) be used?
- How can the recreational economic data be used to value environmental damages?
