10.2190/XXV3-MLPN-6QXV-KBBA XXV3MLPN6QXVKBBA 4 Economic Valuation of Wetland Resources: A Review of the Value Estimates 151 161 20020509 20020509 20020509 20020509 XXV3MLPN6QXVKBBA.pdf http://baywood.metapress.com/link.asp?target=contribution&id=XXV3MLPN6QXVKBBA 2 John C. Whitehead East Carolina University, Greenville Following the recognition that wetlands are valuable ecosystems and the necessary methodological developments, economists have attempted to estimate monetary values for wetland resources. Estimated economic values for wetland resources have been significantly greater than zero. However, several studies that estimate wetlands value consider only a subset of wetland functions and services and, therefore, only partially measure the total value of wetland resources to society. Other studies may overestimate wetland values due to double-counting of value components. P. F. Scodari, <i>Wetlands Protection: The Role of Economics</i>, Environmental Law Institute, Washington, D. C., 1990. R. C. Mitchell and R. T. Carson, <i>Using Surveys to Value Public Goods</i>, Resources for the Future, Washington, D. C., 1989. S. Farber, The Value of Coastal Wetlands for Protection of Property against Hurricane Wind Damage, <i>Journal of Environmental Economics and Management, 14</i>, pp. 143-151, 1987. J. A. Leitch and B. L. Ekstrom, <i>Wetland Economics and Assessment: An Annotated Bibliography</i>, Garland, New York, 1989. Council of Economic Advisors, <i>Economic Report of the President 1990</i>, Washington, D. C., 1991. S. S. Batie and J. R. Wilson, Economic Values Attributable to Virginia's Coastal Wetlands as Inputs in Oyster Production, <i>Southern Journal of Agricultural Economics, 10</i>, pp. 111-118, 1978. G. D. Lynne, P. D. Conroy, and G. J. Prochaska, Economic Valuation of Marsh Areas for Marine Production Processes, <i>Journal of Environmental Economics and Management, 8</i>, pp. 175-186, 1981. S. Farber, The Economic Value of Wetlands Systems, <i>Journal of Environmental Management, 24</i>, pp. 41-51, 1987. J. C. Bergstrom, J. R. Stoll, J. P. Titre, and V. L. Wright, Economic Value of Wetlands-Based Recreation, <i>Ecological Economics, 2</i>, pp. 129-147, 1990. J. C. Bergstrom, J. R. Stoll, and A. Randall, The Impact of Information on Environmental Commodity Valuation Decisions, <i>American Journal of Agricultural Economics, 3</i>, pp. 614-621, 1990. S. Farber, The Value of Coastal Wetlands for Recreation: an Application of Travel Cost and Contingent Valuation Methodologies, <i>Journal of Environmental Management, 26</i>, pp. 299-312, 1988. J. B. Loomis, T. Wegge, M. Hanemann, and B. Kanninen, The Economic Value of Water to Wildlife and Fisheries in the San Joaquin Valley: Results of a Simulated Voter Referendum, <i>Transactions of the 55th North American Wildlife and Natural Resources Conference</i>, pp. 259-268, 1990. G. Mannesto and J. B. Loomis, Evaluation of Mail and In-person Contingent Value Surveys: Results of a Study of Recreational Boaters, <i>Journal of Environmental Management, 32</i>, pp. 177-190, 1991. J. C. Whitehead, Measuring Willingness-to-Pay for Wetlands Preservation with the Contingent Valuation Method, <i>Wetlands, 10</i>, pp. 187-202, 1990. J. C. Whitehead and G. C. Blomquist, Measuring Contingent Values for Wetlands: Effects of Information about Related Environmental Goods, <i>Water Resources Research, 27</i>, pp. 2523-2531, 1991. N. C. Raphael and E. Jaworski, Economic Value of Fish, Wildlife, and Recreation in Michigan's Coastal Wetlands, <i>Coastal Zone Management Journal, 5</i>, pp. 181-194, 1979. J. R. Miller and M. J. Hay, Determinants of Hunter Participation: Duck Hunting in the Mississippi Flyway, <i>American Journal of Agricultural Economics, 63</i>, pp. 677-684, 1981. J. Charbonneau and M. Hay, Determinants of Economic Values of Hunting and Fishing, <i>Transactions of the North American Wildlife and Natural Resources Conference</i>, 1978. R. R. Thibodeau and B. D. Ostro, An Economic Analysis of Wetland Protection, <i>Journal of Environmental Management, 12</i>, 1981. T. R. Gupta and J. H. Foster, Economic Criteria for Freshwater Wetland Policy in Massachusetts, <i>American Journal of Agricultural Economics, 57</i>, pp. 40-45, 1975. L. Shabman and S. S. Batie, Mitigating Damages From Coastal Wetlands Development: Policy, Economics and Financing, <i>Marine Resource Economics, 4</i>, pp. 227-248, 1988.