Estimation of the Economic Value of Wetlands: Methodology and Application to Southeastern Michigan

摘要

Greater understanding and awareness of wetland functions has led to enactment of wetland protection laws in many states. Michigan legislation requires a permit for wetland alteration. Permit decisions are based on the balancing of benefits and costs of proposed wetland uses. Economic concepts are used in this research to structure wetland permit decisions and improve policy choices. Benefit and cost estimation is attemped. A methodology is developed and applied to estimate the value of wetlands in waterfront residential use in southeastern Michigan.