Sunday, July 26, 2015

Upland Resources Valuation Criteria

by Anton Antonio
July 8, 2015

There are many unique and peculiar characteristics of the different upland resources which make them relatively hard to valuate.  Identifying a single valuation method to use will most likely result to accuracy in one specific resource but erroneous results for the rest.  It should also be noted that upland resources could also be in the form of intangible services from nature making valuation more challenging.  To minimize the margin of error, the following criteria may be used:
  1. Must be based on economic principles;
  2.  Must be easily solved by mathematical computation;
  3.  Must easily understood by the average decision maker;
  4. Must result to monetary terms or easily measurable units;
  5.  Must be readily available and in measurable data input;
  6.  Must have clear and definite assumptions; and,
  7.  Must have general application.

Upland resources valuation, as already mentioned, is a very tough and tedious process.  This process, however, can be simplified by using these upland resources valuation criteria.

Just my little thoughts…

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Cruz, C. A. and Calderon, M. M. (2000). “Economics of Upland Resources”. University of the Philippines Open University, Los BaƱos, Laguna, Philippines

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