10 Appendices
Appendix 4: Valuation of natural resources by different approaches
Valuation
approach
Travel cost
model (TCM)
TCM
TCM
Contingent
valuation
method (CVM)
CVM
CVM
CVM
CVM
CVM
CVM
CVM
Production
function
approach
(PFA)
PFA
PFA
PFA
PFA
PFA
Objective of valuation
Valuation offorests in the UK
Value of achray forest in Central Scotland
Measure ofrecreational fishing losses due to
hydroelectric developments
Value of preserving elephants in Kenya
Loggerhead sea turtle program
Exxon Valdez oil spill case
Value of preserving the northern spotted owl
Value of preserving of striped shiner,
Wisconsin
Existence value of eagles, Wisconsin
Value of blue whales, bottlenose dolphins,
California sea otters, and northern elephant
seals
Whooping crane population at the Arkansas
National Wildlife Refuge in Texas
Value of soil conservation
Value of coastal wetland
Value of mangrove system, Bintuni Bay,
Irian Jaya, Indonesia
Value of Hadejia-Jama'are floodplain in
Northern Nigeria
Calculating the social value of the marginal
product of wetland areas
Value of coral diversity
Reference
Garrod and Wills, 1991
Hanley, 1989
Loomis et aI., 1986
Brown, 1993
Whitehead, 1993
Carson et aI., 1992
Rubin et al., 1991
Boyle and Bishop, 1987
Boyle and Bishop, 1986
Hagemann, 1985
Stoll et Johnson, 1984
Pimentel et aI., 1994
Aylward and Barbier, 1992
Ruitenbeek, 1992
Barbier et aI., 1991
Freeman, 1991
Hodgson and Dixon, 1988
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