Incorporating Uncertainty and Cero Values into the Valuation of Protected Areas and Species
AbstractUnder the Spanish conservation law, compensation is envisaged for the damage associated with all actions that reduce the quantity or quality of protected areas and species. This paper provides a tool to evaluate the monetary equivalent of this damage. We conduct a contingent valuation exercise to estimate the existence value related to protected areas and species in Aragon. This estimate is then reconsidered including the possibility of zero bids and also the possibility of uncertain preferences for non-familiar goods. Considering these two effects, mean values are reduced significantly giving support to previous recommendations of dividing by two contingent valuation estimates from dichotomous choice question formats.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24745.
Date of creation: 2005
Date of revision:
natural heritage; contingent valuation; Spike model; uncertainty; Land Economics/Use; B23; C24; C42; C52; D62; Q26;
Find related papers by JEL classification:
- B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
- C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models
- C42 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Survey Methods
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Smith, V. Kerry & Osborne, Laura L., 1996. "Do Contingent Valuation Estimates Pass a "Scope" Test? A Meta-analysis," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 287-301, November.
- Dubourg, W R & Jones-Lee, M W & Loomes, Graham, 1997. "Imprecise Preferences and Survey Design in Contingent Valuation," Economica, London School of Economics and Political Science, vol. 64(256), pages 681-702, November.
- Cameron, Trudy Ann & James, Michelle D, 1987.
"Efficient Estimation Methods for "Closed-ended' Contingent Valuation Surveys,"
The Review of Economics and Statistics,
MIT Press, vol. 69(2), pages 269-76, May.
- Trudy Ann Cameron & Michelle D. James, 1986. "Efficient Estimation Methods for "Closed-Ended" Contingent Valuation Surveys," UCLA Economics Working Papers 404, UCLA Department of Economics.
- Bengt Kristr�m, 1997. "Spike Models in Contingent Valuation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 1013-1023.
- Ian Bateman & Ian Langford, 1997. "Non-users' Willingness to Pay for a National Park: An Application and Critique of the Contingent Valuation Method," Regional Studies, Taylor & Francis Journals, vol. 31(6), pages 571-582.
- Patterson, David A. & Duffield, John W., 1991. "Comment on Cameron's censored logistic regression model for referendum data," Journal of Environmental Economics and Management, Elsevier, vol. 20(3), pages 275-283, May.
- 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.
- Berrens, Robert P. & Jenkins-Smith, Hank & Bohara, Alok K. & Silva, Carol L., 2002. "Further Investigation of Voluntary Contribution Contingent Valuation: Fair Share, Time of Contribution, and Respondent Uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 44(1), pages 144-168, July.
- Li Chuan-Zhong & Mattsson Leif, 1995. "Discrete Choice under Preference Uncertainty: An Improved Structural Model for Contingent Valuation," Journal of Environmental Economics and Management, Elsevier, vol. 28(2), pages 256-269, March.
- 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.
- Boyle, Kevin J. & Welsh, Michael P. & Bishop, Richard C., 1988. "Validation of empirical measures of welfare change: comment," MPRA Paper 31237, University Library of Munich, Germany.
- Dubourg, W R & Jones-Lee, M W & Loomes, Graham, 1994. "Imprecise Preferences and the WTP-WTA Disparity," Journal of Risk and Uncertainty, Springer, vol. 9(2), pages 115-33, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.