4.2. Upcoming contingent valuation studies of Hverahlíð and Eldvörp
In cases where an environmental resource is perceived to be associated with limited recreational value and few or zero provisioning services, there can be considerable merit to using the CVM to estimate both use and non-use value, in so doing forming a stand-alone estimate of total economic value for use in cost-benefit assessments. In response to the OECD's oft-repeated demand to value economically sacrificed environmental benefits associated with developing Icelandic power projects, the authors of this paper will shortly be issuing contingent valuation surveys seeking to estimate the value of preserving the geothermal areas of Hverahlíð and Eldvörp.