Yao, R. & Kaval, P. (2007). Non market valuation in New Zealand: 1974 through 2005. (Department of Economics Working Paper Series, Number 17/07). Hamilton, New Zealand: University of Waikato.
Permanent Research Commons link: http://hdl.handle.net/10289/1608
Non-market valuation (NMV) is recognized as an essential tool in policy decision making worldwide. In this paper, we investigate the history of NMV, specifically in relation to New Zealand (NZ), by compiling and analyzing all available published studies. Results show a significant increase in the number of studies, specifically those requested by government agencies, following the passage of the NZ Resource Management Act of 1991. Studies were found to be concentrated in three major areas: outdoor recreation, environmental conservation/management, and travel time savings. These three areas covered eight environmental commodities, the value of which totaled NZ$72 billion, or 50% of NZ GDP, with the highest valued commodity being biodiversity services. While our analysis yielded many positive results, we did discover, however, a severe lack of studies in many areas including pest control, water resources and outdoor recreation.
Waikato Management School
- Management Papers