Economic Values Attributable to Virginia's Coastal Wetlands as Inputs in Oyster Production

Abstract

Coastal marine wetlands, in their natural state, are important biological and hydrological resources. Wetlands yield numerous valuable services such as provision of nursery and feeding habitat for fish and wildlife, and the assimilation of wastes. Wetlands, when filled or otherwise altered, also provide valuable sites for residences, marinas, or ports. Because well defined and vendable property rights are lacking for natural unaltered wetland services but are available for development services, the unregulated market will tend to reflect only the benefits of development. The result has been a rate of conversion of tidal wetlands that has been unsatisfactory to many individuals.