Public attitudes and economic values for wetland preservation in New England

Wetland preservation produces two types of economic value: use value and nonuse (existence) value. Previous studies have focused almost exclusively on use value, yet nonuse value is becoming increasingly important, in part because it is now considered by the courts in natural resource damage assessments. This study uses the contingent valuation survey technique to estimate the total economic value of wetland preservation in New England. Respondents were willing to pay an average of between 74 and 80 dollars per year (over a five-year period) for wetlands providing flood protection, water supply, and water pollution control and between 81 and 96 dollars per year for wetlands containing rare species of plants. Aggregate value estimates ranged between 242 and 313 million dollars per year. Survey results suggest that most of this value is nonuse value-failure to consider nonuse values in decision making can therefore understate the value of preservation by a substantial margin.