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Valuing of the Benefits of Endangered Miangaran Wetland
Abstract
The purpose of this paper is to aid the policy makers and planners in efficient and sustainable management of Miangaran Wetland within the framework of Ramsar Convention. For this purpose, the overall economic value of the wetland was derived in order to provide the policymakers with relevant information. Choice modeling analysis was applied to estimate the annual value of non-market benefits of Miangaran Wetland; and the market prices method, to derive its market benefits value. From the sum of these figures, the total annual value of the Wetland was obtained as 478.5 billion Rials or United States 19.3 million Dollars. In the absence of social discount rate and using the real interest rate of agriculture and natural resources sector, the wetland’s value, as a natural capital, was calculated to be 7596.1 billion Rials or United States 307.5 million Dollars. The magnitude of such figures indicates that Miangaran Wetland is very valuable for the society which is prepared to pay to protect it. Therefore, it may be hoped that the society would cooperate with any protection plan of this wetland. Moreover, the results of this study could be used for economic evaluation of projects before execution within the wetland’s periphery.
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