Abstract
Theoretical in nature, this paper provides an overview of issues concerning the economic value of protected areas, including methodological problems relating to the valuation of natural assets. It discusses the total economic value concept, which defines the value of natural areas as consisting of use values (direct use values, indirect use values and option values) and non-use values (bequest values and existence values). Selected methods used in the valuation of use and non-use values of natural areas are also presented (e.g. travel cost method, hedonic prices method, contingent valuation method).
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