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Real-payment choice experiments: Valuing forested wetlands and spatial attributes within a landscape context

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  • Newell, Laurie W.
  • Swallow, Stephen K.

Abstract

We consider the choice experiment approach to valuation, due to its focus on tradeoffs between alternatives. Our study is not hypothetical, but implements a real-payment choice experiment (CE) for a multi-attribute good. We use two real wetland parcels to create over 18 descriptions of parcels for conservation under a 10-year development-rights contract. Our payment protocol mitigates incentives to understate willingness to pay through a provision point with a rebate of excess funds. Real choice questions captured significant values for spatial attributes of wetland conservation. Average respondents positively valued 73-acre parcels surrounded by woodland, but required 100acres for parcels surrounded by residential or farm land, and accepted a 19-acre smaller parcel in exchange for full public access.

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  • Newell, Laurie W. & Swallow, Stephen K., 2013. "Real-payment choice experiments: Valuing forested wetlands and spatial attributes within a landscape context," Ecological Economics, Elsevier, vol. 92(C), pages 37-47.
    • Handle: RePEc:eee:ecolec:v:92:y:2013:i:c:p:37-47
    DOI: 10.1016/j.ecolecon.2012.08.008
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