Notice of RetractionExistence Value Measurement of Natural Resources and Environment: Holistic View Based on Common Goods

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

The concept of existence value of natural resources and environment is ambiguous and overlapping for decades, while these definitions have not incorporate explicit measurement. In essence, natural resources and environment are all common goods, which are rivalrous and non-excludable from economic perspective. This paper argues that the free-rider problem within common goods elicits the notable diversity between willingness to pay (WTP) and willingness to accept (WTA). Furthermore, the connotation and range of existence value of natural resource and environment are redefined so as to make accurate measurement. The traditional environmental economic methods of cost-benefit analysis and shadow price are compared and blended to adjust the commonly used contingent valuation method (CVM) in existence value measurement.