Application of Wetland Valuation Techniques: Examples from Great Lakes Coastal Wetlands

摘要

Proper wetland valuation procedures have not been applied in the past to Michigan's coastal wetlands. Previous valuation studies fail to value individual wetland ecological functions and use improper techniques to derive wetland values. The results of previous studies hence undervalue Michigan wetlands. The report uses existing Michigan wetland data and proper economic methods to illustrate the utilization of proper economic methods to value recreational fishing, commercial, fishing, and real estate benefits for Lake St. Clair and Saginaw Bay wetlands.