Bequest value, in

economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ...

, is the value of satisfaction from preserving a

natural environment The natural environment or natural world encompasses all life, biotic and abiotic component, abiotic things occurring nature, naturally, meaning in this case not artificiality, artificial. The term is most often applied to Earth or some parts ...

or a historic environment, in other words

natural heritage Natural heritage refers to the sum total of the elements of biodiversity, includes flora and fauna, ecosystems and geological structures. It forms part of our natural resources. Definition Definitions: * Natural heritage refers to natural feat ...

cultural heritage Cultural heritage is the heritage of tangible and intangible heritage assets of a group or society that is inherited from past generations. Not all heritages of past generations are "heritage"; rather, heritage is a product of selection by socie ...

for future generations. It is often used when estimating the value of an

environmental service Ecosystem services are the various benefits that humans derive from ecosystems. The interconnected living and non-living components of the natural environment offer benefits such as pollination of crops, clean air and water, decomposition of wast ...

or good. Together with the

existence value Existence values are a class of economic value, reflecting the benefit people receive from knowing that a particular environmental resource, such as Antarctica, the Grand Canyon, endangered species, or any other organism or thing exists. Existenc ...

, it makes up the

non-use value Non-use value is the value that people assign to economic goods (including public goods) even if they never have and never will use it. It is distinguished from use value, which people derive from direct use of the good. The concept is most commo ...

of such an environmental service or good.

References

Environmental economics {{econ-stub