TERM 1
Environmental Quality
DEFINITION 1
User Value (direct and indirect user value) + Existence Value
(vicarious consumption and stewardship value)
TERM 2
Direct Indirect User
Value
DEFINITION 2
Direct- Benefit Derived from directly consuming services
provided by an environmental good (Commercial fleet fishing
from catching fish in the lake) Indirect User Value- Benefit
derived from indirect consumption of an environmental good
(get utility from simply looking at a view of a lake)
TERM 3
Existence Value
DEFINITION 3
gaining benefit simply by knowing that things are there
vicarious consumption- Utility associated with knowing that
others derive benefits from an environmental good
stewardship- Sense of obligation to preserve the environment
for future generations Utility derived in interdependent
TERM 4
Two Broad categories of various
measurement technique
DEFINITION 4
The Physical Linkage Approach Behavioral Linkage Approach
TERM 5
Physical Linkage approach
DEFINITION 5
Estimates benefits based on a technical relationship between
an environmental resource and the user of that resource
(damage function method)
