Conventional approaches to valuing coastal and marine natural resources in urban settings usually rely on unit value estimates derived from non-urban areas. These values are unlikely to capture the full extent of economic benefits from these resources in densely populated and highly developed coastal cities and their suburbs. High housing and population density, large numbers of visitors, and high premiums placed by residents and visitors on sound environmental conditions and aesthetic resources, for both active and passive uses, must be taken into account to properly value marine natural resources in urban settings. We propose to develop a framework for this valuation, and to apply this framework to a case study of the cleanup of Boston Harbor, now largely completed, but never systematically analyzed from an economic perspective.
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