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A Contingent Valuation Estimate of the Benefits of Wolves in Minnesota

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Author Info

  • Catherine Chambers
  • John Whitehead

Abstract

In this paper we estimate the willingness topay for a wolf management plan and a wolfdamage plan in Minnesota using the contingentvaluation method. The theoretical definition ofwillingness to pay for wolf protection iscomposed of use and non-use values. Weincorporate a don't know response option in thedichotomous choice valuation questions. A largenumber of respondents answered don't know. Themultinomial logit model is used todifferentiate between don't know and noresponses. Non-use motives are importantfactors that explain willingness to pay. We usethese benefit estimates in combination with twoalternative cost estimates to consider theefficiency of the wolf management and damageplans. Both plans have estimated benefitsgreater than costs. Copyright Kluwer Academic Publishers 2003

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Bibliographic Info

Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 26 (2003)
Issue (Month): 2 (October)
Pages: 249-267

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Handle: RePEc:kap:enreec:v:26:y:2003:i:2:p:249-267

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Web page: http://www.springerlink.com/link.asp?id=100263

Related research

Keywords: CVM; endangered species; willingness to pay;

References

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  1. Richard T. Carson & W. Michael Hanemann & Raymond J. Kopp & Jon A. Krosnick & Robert C. Mitchell & Stanley Presser & Paul A. Ruud & Smith, V. Kerry, 1995. "Referendum Design and Contingent Valuation: TheNOAA Panel's No-Vote Recommendation," Working Papers 95-17, Duke University, Department of Economics.
  2. Kotchen, Matthew J. & Reiling, Stephen D., 2000. "Environmental attitudes, motivations, and contingent valuation of nonuse values: a case study involving endangered species," Ecological Economics, Elsevier, vol. 32(1), pages 93-107, January.
  3. Loomis, John & Ekstrand, Earl, 1998. "Alternative approaches for incorporating respondent uncertainty when estimating willingness to pay: the case of the Mexican spotted owl," Ecological Economics, Elsevier, vol. 27(1), pages 29-41, October.
  4. Dixie Reaves & Randall Kramer & Thomas Holmes, 1999. "Does Question Format Matter? Valuing an Endangered Species," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 14(3), pages 365-383, October.
  5. Loomis, John B. & White, Douglas S., 1996. "Economic benefits of rare and endangered species: summary and meta-analysis," Ecological Economics, Elsevier, vol. 18(3), pages 197-206, September.
  6. McConnell, K. E., 1997. "Does Altruism Undermine Existence Value?," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 22-37, January.
  7. Richard C. Ready & Dayuan Hu, 1995. "Statistical Approaches to the Fat Tail Problem for Dichotomous Choice Contingent Valuation," Land Economics, University of Wisconsin Press, vol. 71(4), pages 491-499.
  8. Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
  9. Trudy Ann Cameron, 1991. "Interval Estimates of Non-Market Resource Values from Referendum Contingent Valuation Surveys," Land Economics, University of Wisconsin Press, vol. 67(4), pages 413-421.
  10. Wang, Hua, 1997. "Treatment of "Don't-Know" Responses in Contingent Valuation Surveys: A Random Valuation Model," Journal of Environmental Economics and Management, Elsevier, vol. 32(2), pages 219-232, February.
  11. John B. Loomis, 2000. "Vertically Summing Public Good Demand Curves: An Empirical Comparison of Economic versus Political Jurisdictions," Land Economics, University of Wisconsin Press, vol. 76(2), pages 312-321.
  12. Carson, Richard T. & Hanemann, W. Michael, 2006. "Contingent Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 17, pages 821-936 Elsevier.
  13. Haener, Michel K. & Adamowicz, Wiktor L., 1998. "Analysis Of "Don'T Know" Response To Referendum Contingent Valuation Questions," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(2), October.
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Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. More environmental economics journal rankings
    by John Whitehead in Environmental Economics on 2009-05-15 13:34:48
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Cited by:
  1. Kelvin Balcombe & Iain Fraser, 2009. "Dichotomous-choice contingent valuation with 'dont know' responses and misreporting," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 24(7), pages 1137-1152.
  2. Jin Jianjun, 2008. "Economic Valuation of Black-faced Spoonbill Conservation in Macao," EEPSEA Special and Technical Paper tp200801t2, Economy and Environment Program for Southeast Asia (EEPSEA), revised Jan 2008.
  3. Lili Reyes Hernandez & Melissa Yepes Tafur, 2013. "Evaluacion economica de preservar el mono titi cabeciblanco: Una aplicacion del metodo de valoracion contigente," REVISTA ECONOMÍA & REGIÓN, UNIVERSIDAD TECNOLÓGICA DE BOLÍVAR.
  4. Richardson, Leslie & Loomis, John, 2009. "The total economic value of threatened, endangered and rare species: An updated meta-analysis," Ecological Economics, Elsevier, vol. 68(5), pages 1535-1548, March.
  5. Loureiro, Maria L. & Ojea, Elena, 2008. "Valuing local endangered species: The role of intra-species substitutes," Ecological Economics, Elsevier, vol. 68(1-2), pages 362-369, December.
  6. Muhly, Tyler B. & Musiani, Marco, 2009. "Livestock depredation by wolves and the ranching economy in the Northwestern U.S," Ecological Economics, Elsevier, vol. 68(8-9), pages 2439-2450, June.
  7. Göran Bostedt & Göran Ericsson & Jonas Kindberg, 2008. "Contingent values as implicit contracts: estimating minimum legal willingness to pay for conservation of large carnivores in Sweden," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 39(2), pages 189-198, February.
  8. Ojea, Elena & Loureiro, Maria L., 2011. "Identifying the scope effect on a meta-analysis of biodiversity valuation studies," Resource and Energy Economics, Elsevier, vol. 33(3), pages 706-724, September.
  9. Broberg, Thomas & Brännlund, Runar, 2006. "The value of preserving the four large predators in Sweden: Regional differences considered," UmeÃ¥ Economic Studies 671, Umeå University, Department of Economics.

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