Náttúrufræðingurinn - 2001, Page 18

As of yet, no attempt has been made to esti-
mate the economic value of the environmental
assets at risk, though this would ease the deci-
sion over whether the hydroscheme is worth-
while or whether the preservation of the area
would be a more feasible option.
This paper reports a contingent valuation
study conducted in 2000, in order to assess the
value of the environmental assets in the wilder-
ness area. The total value estimated is ISK 385
million, according to people’s willingness to pay
for the creation of a national park. This estimate
represents both the economic costs of the pro-
posed hydroscheme and the economic benefits
that would accrue if the area was designated in-
stead as a national park. The monetisation of
non-market costs and benefits enables a fair deci-
sion to be taken with regard to the feasibility of
the projects in terms of sustainability. It is
therefore recommended that these values are in-
cluded in a cost-benefit analysis.
■ HEIMILDIR
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PÓST- OG NETFANC HÖFUNDAR/AuTHORS'
Addressand f-mail
Nele Lienhoop
University of Aberdeen
Department of Agriculture
MacRobert Building
AB24 5UA Aberdeen
Scotland
n.lienhoop@abdn.ac.uk
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