The Worth of a Possum: Valuing Species with the Contingent Valuation Method
AbstractThe focus of this paper is on methods of assessing the value peopleplace on the conservation of species for use in policy making. Of principalinterest is the relatively new methodology of contingent valuation, whichis a method for asking people directly about their preferences. The paperpresents an application of the contingent valuation method to theconservation of an endangered species in the State of Victoria, Australia.The results emphasise the importance of careful survey design,implementation and analysis as well as the precise definition of theenvironmental good being valued. Consequently, the contingent valuationmethod does provide information relevant to decision making processesbased on monetary economic considerations. Thus, in orthodox economicterms it makes sense to conserve species – but there are other moral andethical grounds for conserving species as well. Copyright Kluwer Academic Publishers 2001
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Bibliographic InfoArticle provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.
Volume (Year): 19 (2001)
Issue (Month): 3 (July)
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Web page: http://www.springerlink.com/link.asp?id=100263
biodiversity; individual preferences; policy making; species conservation;
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