The Existence of Existence Value — A Study of The Economic Benefits of an Endangered Species

This paper offers a theoretical and empirical description of existence value in a wildlife valuation context. The first sections contain a theoretical inquiry into what existence value actually is, how it is defined in the literature, and by economic theory. Here we use the concept of a minimum viable population (MVP) to explore its relation to other non-use and use values. The empirical analysis is based on data from a contingent valuation survey undertaken to estimate the economic benefits of the white-backed woodpecker, a species classified as endangered in Sweden. Willingness to pay (WTP) is found to be positive for preserving the species, while the marginal value of an increased population density is zero or non-positive. In addition, a majority of the respondents also rank “all species have a right to exist” as their first priority among different reasons for preserving the woodpecker. These results are all regarded as evidence of an existence value.