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Recent studies have suggested that tropical wetland systems may have a crucial economic role to play in development. The following paper provides an overview of these benefits, using the general framework of cost-benefit analysis as the methodological approach to assessing wetland values. An analysis of trade-offs between conserving or converting tropical wetlands demonstrates that taking into account the opportunity cost of wetland loss leads to a lower level of conversion than would otherwise be the case. Finally, the paper discusses the extensions and limitations of the production function approach as applied to valuing nonmarketed wetland benefits.
Edward B. Barbier (1994) studied this question.