Related goods approaches
21st Dec 2018
Related goods approaches
Suitability for the forest ecosystem services to be valued:
Non marketed ecosystem services
Description of the method:
A non-marketed good or service may be related to a marketed good or service. By using information about this relationship and the price of the marketed product, the analyst may be able to infer the value of the non-marketed product. This broadly defined related goods approach consists of three similar valuation techniques:
Barter exchange approach
Direct substitute approach
Direct substitute approach