Value
Types of Use
Measures of monetary valuation of
socio-economic consequences
Non-use/
bequest
Option
Loss of potential uses –
Estimated future value of commercial
fishery
Use
Direct
Consumption
by
local people
Production
activities
Indirect uses
Loss of recreation opportunities –
Costs associated with alternative
sources
of
recreation, e.g. travel costs to alternative site(s).
Loss of of tradable commodities (e.g.
fish)
that can be sustainably harvested – Producer
and
consumer surplus from trade in commodity
Negative social changes associated
with the impairment or loss of above
direct uses
–
Reduction in local GDP. Welfare support
payments
MARKET
VALUATION OF CONSEQUENCES