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will continue to perform desired services or maintain their functional value 

 over an extended period of time cannot be measured at this time and the answer 

 probably varies with the size, location and condition of each wetland. 



The different methods of calculation, the need to translate some noneco- 

 nomic values into economic terms, and the broad range of values found in var- 

 ious types of wetlands lead to estimated values varying widely. One method 

 has yielded estimated values of $15,000 to $33,000 per acre in Maine, $2,500 

 per acre in Massachusetts, $6,000 per acre in a Texas estuary, and $8,000 for 

 mangroves in South Florida. A second method has yielded lower values: $400 

 per acre in New York, $2,200 per acre in Massachusetts, and $138 per acre in 

 Florida (at a 5 percent rate of interest). Three ecologists using an "energy 

 theory of value" estimated wetland worth at $83,000 per acre. Finally, eco- 

 nomists at Virginia Polytechnic Institute have estimated values to range from 

 $9 to $2,000 per acre, depending on location and choice of capitalization rate. 33 / 



The wide range of estimated values and the lack of estimated values for 

 many types of wetlands tend to limit the usefulness of these economic measures 

 for policy making purposes. The wide range of estimated values makes a compar- 

 ison of different combinations of functions or of different wetland types 

 almost meaningless. The limited figures, for example, make it impossible to 



33 / For a brief summary of past estimating efforts, see Gary L. Lynne 

 and Patricia Conroy. Methodological Considerations in Estimating the Eco- 

 nomic Value of Marsh and Estuarine Areas to Marine Production Processes. Staff 

 Paper 127. Gainesville, University of Florida Food and Resources Economics 

 Department, 1979. p. 2-4. A more detailed summary was recently released and 

 has an extensive bibliography. National Wildlife Federation. Wetlands Func- 

 tions and Examples of Economic Values. Washington, 1982. 18 p. Debate over 

 the most appropriate methodology within the discipline of economics has been 

 extensive, and no single approach has been generally accepted by the profession. 



Analyses of economic benefits of wetlands have been based on the poten- 

 tial of an area to perform certain functions, or on its biological carrying 

 capacity. Most do not appear to take into accout value lost or gained for 

 other functions as a result of performing one or more these functions. 



