Using single-bounded contingent valuation method to measure the benefits of ecosystem services in Malaysia /
The case elaborates on the economic valuation of non-market products or services, where there are benefits produced by non-market products, such as clean air, ecosystem, wetlands, mangroves, cultural values, et cetera "Non-market products and services" refers to products or services that p...
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| Format: | eBook |
| Language: | English |
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London :
SAGE Publications Ltd,
2024.
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| Series: | SAGE research methods. Cases
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | The case elaborates on the economic valuation of non-market products or services, where there are benefits produced by non-market products, such as clean air, ecosystem, wetlands, mangroves, cultural values, et cetera "Non-market products and services" refers to products or services that provide benefit but do not have market monetary value because there are no financial transactions for these products and services in the market. An "ecosystem" is an indispensable natural resource system where natural resources such as flora, fauna, and other organisms, along with climate, landscapes, etc., interact with each other to provide benefits to life. The benefits provided by ecosystems are mainly ignored and taken for granted, because people assume ecosystems will always exist. Nevertheless, the natural landscape of an ecosystem in a country could be damaged under the pretext of "development" because there is always a trade-off in order to gain something in return from the perspective of economics. Hence, uncontrollable and rapid growth with a poor development plan--for example, one that results in rising sea levels and higher greenhouse gas emissions--could lead to further and possibly irreparable damage to the natural ecosystem. The benefits obtained from the ecosystem services are vital to a human's daily life, but the services rendered were not being transacted directly in the market. Hence, several economic valuations on non-market products have been introduced over the years, and one of the approaches is the contingent valuation method (CVM). |
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| Physical Description: | 1 online resource. |
| ISBN: | 9781529684551 1529684552 |