In recent years, economists seeking a broader measure of the value of environmental amenities have invoked a new concept—“existence value”—purporting to define the value people attach to simply knowing that certain natural resources exist. However, despite its scientific veneer, this problematic concept is loaded with theoretical and value implications that make it more at home in theology than in economics.
Robert H. Nelson (1944–2018) was a Senior Fellow at the Independent Institute.
Culture and SocietyEnergy and the EnvironmentEnvironmental Law and RegulationNatural ResourcesPhilosophy and Religion
Other Independent Review articles by Robert H. Nelson
Spring 2013 Gus diZerega Responds to Robert Nelson and Nelson Replies
Summer 2012 Economics and Environmentalism: Belief Systems at Odds
Spring 2010 Ecological Science as a Creation Story
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