Existence value
Existence values are an unusual and somewhat controversial class of economic value, reflecting the benefit people receive from knowing that a particular environmental resource, such as Antarctica or the Grand Canyon, exists in a relatively untouched state. They are sometimes termed non-use values as they do not require that any direct utility is gained from the resource: the utility comes from simply knowing the resource exists. These values are commonly measured through contingent valuation surveys and have been actionable damages in the US since State of Ohio v United States Dep't of Interior. They were first used in a legal assessment of damages following the Exxon Valdez oil spill.
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