Economic values play a significant role in social development, whether they are made explicit or just perceived by social actors. In this chapter we introduce a comprehensive concept of resource value. Considering direct use values, indirect use values and non-use values we attempt to encompass the total value of forest resources. Taking Bolivia as an example, we present a review of forest and environmental economics literature, providing an overview of the state-of-the-art of this research field in an Andean country.