Pilot contingent valuation of Karawatha Forest, Brisbane

McBride, Sean. (1994). Pilot contingent valuation of Karawatha Forest, Brisbane Master's Thesis, School of Economics, The University of Queensland.

       
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Author McBride, Sean.
Thesis Title Pilot contingent valuation of Karawatha Forest, Brisbane
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 1994
Thesis type Master's Thesis
Supervisor Professor Clem Tisdell
Total pages 72
Language eng
Subjects 14 Economics
Formatted abstract
Increasingly over recent decades it has been recognised that despite the -zero or close to zero prices allocated to natural assets by the market system, they do in fact contribute positively to a society's welfare.

This report considers a pilot application of the contingent valuation methodology to estimate the magnitude of and the use and non-use components of the preservation value of a large natural area, Karawatha Forest, located within a rapidly growing urban region.

The study consisted of 100 randomly selected, face-to-face interviews using the direct question with payment card elicitation method and a private trust fund as the payment vehicle. The report details techniques employed to improve the validity and reliability of the survey.

The findings of the study can not be considered definitive and require further analysis on their statistical form. However the study suggests that adult residents of Brisbane City value 770 hectares of Karawatha Forest at (discounted at five percent): (i) mean present value of $26.69, (ii) total value of $15.5 million, (iii) land within the Forest at $20 000 per hectare and (iv) non-use value comprises over 90 percent of total value.

The above figures are considered minimum estimates of value and only indicate the value of the Forest to Brisbane City residents, not the wider regional population.


Document type: Thesis
Collection: UQ Theses (non-RHD) - UQ staff and students only
 
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Created: Thu, 14 Oct 2010, 10:19:00 EST by Ning Jing on behalf of The University of Queensland Library