Estimating the economic value of wetlands: Principles, methods, and limitations

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Abstract
Few conceptually valid estimates of the economic value of wetlands exist. This is due, in part, to the complexity of the procedures needed to obtain such estimates in conjunction with the extensive data requirements of such procedures. In most cases, such data are lacking. This paper describes basic principles which underlie conceptually valid estimates of nonmarket and market values of wetlands and data needs for such estimates. The implications for wetlands management are explored for situations where such data are not available.

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