Returns to investment in conservation: Disaggregated benefit-cost analysis of the creation of a wildlife sanctuary

Lele, Sharachchandra and Srinivasan, Veena and Kamaljit Bawa, S (2001) Returns to investment in conservation: Disaggregated benefit-cost analysis of the creation of a wildlife sanctuary. In: Tropical Ecosystems: Structure, Diversffy and Human Welfare. Proceedings of the intemationai Conference on Tropical Ecosystems. Oxford & IBH, New Delhi, pp. 31-33. ISBN 812041496965

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Abstract

Tropical forest ecosystems provide a wide range of benefits to mankind. Economists have categorised these into use and non-use values, further categorised into direct and indirect use on the one hand and option, bequest and existence value on the other. Estimating the 'total economic value' of forests has become a popular topic of research and discussion in the conservation community. Theory and techniques for estimation of the nonusebenefits have dominated recent research. In the process, however, most valuation exercises have overlooked two fundamental issues: a) the 'so what?' problem, i.e. estimating the economic value of something in isolation is not very useful, and b) the 'aggregation problem', i.e. the fact that the supposed 'aggregate social welfare function' has no objective basis. These problems need to be addressed if economic valuation is to provide

Item Type: Book Section
Additional Information: Copyright of this article belongs to Oxford & IBH
Uncontrolled Keywords: Conservation, wildlife sanctuary, benefit-cost analysis, Biligiri Rangaswamy Wildlife sanctuary.
Subjects: C Publications by ATREEians > H Book Chapters
Divisions: Publications by ATREEians > Book Chapters
Depositing User: Users 103 not found.
Date Deposited: 15 Dec 2016 09:13
Last Modified: 15 Dec 2016 09:13
URI: http://eprints.atree.org/id/eprint/426

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