Simulated exchange values and ecosystem accounting: Theory and application to free access recreation

This paper discusses the Simulated Exchange Value method, a practical method to estimate values for goods and services currently outside of the market in a manner consistent with the market-based figures considered in national accounts. The method proposes to simulate, in a partial equilibrium conte...

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Bibliographic Details
Published inEcological economics Vol. 139; pp. 140 - 149
Main Authors Caparrós, Alejandro, Oviedo, José L., Álvarez, Alejandro, Campos, Pablo
Format Journal Article
LanguageEnglish
Published Elsevier B.V 01.09.2017
Subjects
AAS
Andalusia
Discrete choice
Forests
Green accounting
Non-market goods and services
Recreation
SEEA
SNA
Non-market goods and services
Forests
AAS
Recreation
Discrete choice
Green accounting
Andalusia
SNA
SEEA
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Summary:This paper discusses the Simulated Exchange Value method, a practical method to estimate values for goods and services currently outside of the market in a manner consistent with the market-based figures considered in national accounts. The method proposes to simulate, in a partial equilibrium context, the price that would occur if a good or service outside of the market, such as free access recreation in forests, were internalized. The method takes into account the demand, estimated using non-market valuation techniques, the supply and the market structure. The discussion covers the case of a linear demand and the case in which the demand is estimated using discrete choice methods. This paper applies the method to free access recreation in the forests of Andalusia, in the south of Spain, and compares the results to those obtained using Hicksian variations.
ISSN:0921-8009
1873-6106
DOI:10.1016/j.ecolecon.2017.04.011