Existenzwerte

Existenzwerte, in environmental economics known as existence values, are the monetary values that individuals assign to the mere existence of a natural resource, species or environmental asset, independent of any direct use or future option. They are a form of non-use value, distinguishing them from use values such as recreation, timber, or other direct benefits.

Existenzwerte are typically estimated through stated preference methods, especially contingent valuation and, to a lesser extent, discrete choice experiments. Respondents indicate their willingness to pay to prevent a perceived loss or to maintain the existence of the resource. Revealed preference methods are less common for existence values because many environmental goods do not have direct markets. The reliability of estimates depends on survey design, avoidance of biases, and proper framing of scope and context.

Applications of existence values include informing cost-benefit analyses and policy decisions related to biodiversity conservation, protected areas, and ecosystem preservation. They help capture society’s broader ethical and intrinsic reasons for valuing nature, complementing use and option values in total economic value assessments.

Limitations and debates surround existence values, including hypothetical bias, embedding effects, and scope sensitivity. Values can vary with income, cultural background, knowledge, and the way questions are posed. Critics caution about equating stated willingness to pay with actual behavior, and about ethical concerns in monetizing intrinsic aspects of nature. Related concepts include use value, option value, and bequest value, which together form the broader framework of non-use valuation.