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The Hedonic Approach to Estimating the Value of Unpriced Natural Resources

Published online by Cambridge University Press:  10 May 2017

Ivar Strand ,
William Ralph ,
J. John Charbonneau  and
Michael J. Hay
Ivar Strand
Affiliation:
University of Maryland, Moderator
William Ralph
Affiliation:
University of Rhode Island
J. John Charbonneau
Affiliation:
U.S. Department of the Interior
Michael J. Hay
Affiliation:
U.S. Department of the Interior
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Extract

Strand introduced the symposium with a general discussion of how the hedonic approach is being used to value natural resources. At issue was how one could identify both supply and demand functions for natural resources (e.g. sport fish or waterfowl) from expenditure data collected in cross-sectional interviews of recreationalists. The critical element is that the derivative of the hedonic equation with respect to an output is dependent on another variable within the system.

Type
Organized Symposia Abstracts
Information
Journal of the Northeastern Agricultural Economics Council , Volume 8 , Issue 2 , October 1979 , pp. 325
Copyright
Copyright © Northeastern Agricultural and Resource Economics Association 

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