Existence value is separate from the value accruing from any use or potential use of the asset ."
2.
Existence values are unable to be assessed through market pricing mechanisms, so contingent valuation surveys were suggested to assess them.
3.
Together with the existence value, it makes up the non-use value of such an environmental service or good.
4.
Existence values are generally used to buttress the environmentalists'side of the debate, but that doesn't mean all environmentalists like the idea.
5.
As the Canadian Privy Council explains, existence value is " A concept used to refer to the intrinsic value of some asset, normally natural / environmental.
6.
Following " Ohio v Department of the Interior ", the types of damages which they were able to recover included non-use or existence values.
7.
Still, proponents of breaching the dams say that even if the existence value of restoring the river and salmon can't be precisely quantified, it is both large and meaningful.
8.
The idea of existence value, favored by many environmentalists as a legitimate policy tool in conservation debates and ridiculed by critics as unquantifiable, meaningless or both, has been around since the 1960s.
9.
Existence value is a prominent example of non-use value, as they do not require that utility be derived from direct use of the resource : the utility comes from simply knowing the resource exists.
10.
These included the loss of recreational sports, fisheries, reduced tourism, and an estimate of what economists call " existence value ", which is the value to the public of a pristine Prince William Sound.
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