2012-03: Valuing Australia's protected areas: A life satisfaction approach (Working paper)
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Fleming, Christopher M.
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Nguyen, Tom
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32 pages
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This paper uses the life satisfaction approach to value Australia's protected areas, grouped by IUCN protected area management category. We find significant positive life satisfaction effects of living in close proximity to protected areas in three of the seven categories. These life satisfaction effects correspond to implicit willingness-to-pay levels, in terms of annual household income, of approximately $2,950 (IUCN category IB), $6,650 (IUCN category III) and $9,650 (IUCN category IV) for a one-per-cent increase in the extent of that protected area category within an individual's local area.
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Copyright © 2010 by author(s). No part of this paper may be reproduced in any form, or stored in a retrieval system, without prior permission of the author(s).
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Economics and Business Statistics
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Subject
Q51 - Valuation of Environmental Effects
C21 - Single Equation Models; Single Variables: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions
R20 - Urban, Rural, Regional, and Transportation Economics: Household Analysis: General
Protected areas
non-market valuation
life satisfaction
happiness
Household Income and Labour Dynamics in Australia (HILDA)