Related goods approaches - barter exchange approach, Public Economics

Related Goods Approaches - Barter Exchange Approach

 

Some of the forest products such as wild fruits and vegetables are not sold in formal markets. Some of these goods, however, may be exchanged on a non-commercial basis for goods which are available in the market.

The unit of exchange between the two can be used to evaluate the forest product. For example, leafy vegetables are collected from forest by villagers residing in 6inge areas, which are used for self-consumption. Since these vegetables are not marketed it is not possible to find out their market prices. However, if these vegetables are regularly exchanged for some other commodity, say paddy, then the unit of exchange between leafy vegetable and paddy can be found out. The market price of paddy in this case could be used to find the value of the leafy vegetables under consideration.

 

 

Posted Date: 12/18/2012 5:24:20 AM | Location : United States







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