Abstract
Non-market valuation (NMV) is recognized as an important tool in environmental policy decision-making worldwide. In this paper, we investigate the history of NMV, specifically in relation to New Zealand, by compiling and reviewing all available published NMV studies prior to the year 2006. The results illustrate a significant increase in the number of studies, specifically those requested by government agencies, following the passage of the New Zealand Resource Management Act of 1991. Studies were found to be concentrated in three major areas: outdoor recreation, environmental conservation/management, and travel time savings. These three areas covered eight environmental commodities, the value of which totalled 70 billion New Zealand dollars (2007 NZD) per annum, or 50% of the country's gross domestic product, with the highest valued commodity being biodiversity services. While our analysis yielded many positive results, we did discover a lack of studies in areas such as pest protection, cultural resources, and popular outdoor recreational activities (e.g., black water rafting, bungee jumping, and surfing).
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