Economics is anthropocentric: it is concerned with values that humans perceive, not with intrinsic value, which, though real, might be considered to be a theological question.
From a human perspective, the value of Cockpit Country can be divided into use values, which provide useful goods or services, and non-use values, those derived from mere existence.
Use values may be classified as direct, indirect, or option.
- Direct use values are those that are rivalrous in that the extent of one person’s consumption diminishes its availability to others, such as water.
- Indirect use values are non-rivalrous in that they contribute to the environment equally for all and consists of the area’s contribution to the wider eco-system, such as climate regulation.
- Whereas both direct and indirect use values are currently being enjoyed, option values represent goods, knowledge, or services that may be useful in the future and there is present value preserving that possibility: e.g. possible medicinal cures.