Yet many economists say that while existence value is, in theory, a perfectly valid factor to bring to the table, coming up with precise ways to gauge how much people value something like wilderness is far more difficult.
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Wallace Stegner, one of the great writers of the West, was clearly talking about existence value in his ardent calls for " wilderness preserved, " but the author never veered into discussing actual dollars and cents.
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Interior Secretary Bruce Babbitt, whose department oversees national parks and much of the more than 100 million acres designated as protected wilderness, also cautions against using existence values in environmental debates _ but largely because they may wind up understating the value of wilderness.
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For example, a tree can be valued in a number of ways, including its use value ( as lumber ), an existence value ( simply being there ), and an option value ( value of things that it could be used for ).
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Bequest value or existence value : Placed on a resource that will never be used by current individuals, dervied from the value of satisfaction from preserving a natural environment or a historic environment ( i . e ., natural heritage or cultural heritage ) for future generations.
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In the midst of a major study of whether or not to breach four huge hydroelectric dams on the Snake River in eastern Washington, economists with the Army Corps of Engineers are adding a factor known as " existence value " to their list of costs and benefits of the contentious proposal.
How to say existence value in Hindi and what is the meaning of existence value in Hindi? existence value Hindi meaning, translation, pronunciation, synonyms and example sentences are provided by Hindlish.com.
