Abstract

Economic decisions have to be taken in the real world even if no market value exists for such valuable intangible goods/services. Chapter which deals with economic valuation of non-market benefits is divided into two sections. Section I explains the meaning of total economic value and outlines the methods to estimate values of non-market commodity in the context of forestry and wildlife conservation. As a case study, valuation of ecotourism, a non market service, is presented in section II