This short working paper summarizes ecosystem service economic valuation methods. The paper begins with an introduction to ecosystem services, and then describes the various methods that can be used to value them. An extensive literature review was carried out, illustrating those ecosystem...

New Zealand’s biodiversity consists of over 80,000 native plants, animals and fungi, many of which are indigenous and located on private property. To enhance native biodiversity and discourage activities that may deplete it, policies can be introduced that can encourage individual...

The ways in which economists value natural resources has been, and continues to be, a constantly evolving process. At first, only transactions that took place in the marketplace were considered. However, it was not long until it was realised that this concept was an incomplete way to value...

This paper examines the size effects of volatility spillovers for firm performance and exchange rates with asymmetry in the Taiwan tourism industry. The analysis is based on two conditional multivariate models, BEKK-AGARCH and VARMA-AGARCH, in the volatility specification. Daily data from 1 July...

In this paper, the annual maximum daily rainfall data from 1961 to 2010 are modelled for 18 stations in Taiwan. We fit the rainfall data with stationary and non-stationary generalized extreme value distributions (GEV), and estimate their future behaviour based on the best fitting model. The...

This paper has two primary purposes. First, we fit the annual maximum daily rainfall data for 6 rainfall stations, both with stationary and non-stationary generalized extreme value (GEV) distributions for the periods 1911-2010 and 1960-2010 in Taiwan, and detect the changes between the two...

This paper tests whether changes in 'incidental emotions' lead to changes in economic choices. Incidental emotions are experienced at the time of an economic decision but are not part of the payoff from a particular choice. As such, the standard economic model predicts that incidental emotions...

Although in-situ conservation is increasingly considered an efficient way of conserving plant genetic resources, little is known about the incentives and constraints that govern conservation decisions among small farm holders in developing countries. Using a choice experiment approach, we...

During December 2007 and January 2008, telephone surveys were used to randomly sample Waikato, New Zealand residents. The purpose of the surveys was to determine whether respondents valued native bird conservation programmes in their area. We elicited the contingent valuation approach to...

Several New Zealand studies have placed a value on recreation. Very few have placed a value on native birdlife. In December 2007 and January 2008, we conducted a phone survey in the Waikato Region of New Zealand. 207 people answered 13 questions on native birds. 97% of respondents enjoy having...