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The impact of latent risk preferences on valuing the preservation of threatened lynx populations in Poland

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  • Bartczak, Anna
  • Mariel, Petr
  • Chilton, Susan
  • Meyerhoff, Jurgen

Abstract

A recent innovation in stated preference environmental valuation surveys is to acknowledge uncertainty associated with scientific predictions about ecological outcomes, complexity of management actions and potential difficulties in implementing environmental programs. Still little is known about how individuals assimilate and respond to outcome uncertainty, particularly in terms of how it affects their stated valuations. In this paper, we focus on the impact of individual risk preferences on willingness to pay for conservation of threatened species. Risk preferences are elicited through a standard incentivised multiple price list and preferences for the conservation of the two main lynx populations in Poland through a discrete choice experiment. To account for the uncertainty associated with imprecise scientific knowledge about environmental outcome, attributes in the choice experiment are presented as conservation status in terms of descriptive, non-numerical categories. The results from the multiple price list and the choice experiment are jointly analysed in a latent variable model by assuming that the responses to both are driven by the same preferences. We find that the latent risk preferences are linked to choices of the status quo option, which is the riskiest option in terms of the survival of the endangered lynx populations.

Suggested Citation

  • Bartczak, Anna & Mariel, Petr & Chilton, Susan & Meyerhoff, Jurgen, 2016. "The impact of latent risk preferences on valuing the preservation of threatened lynx populations in Poland," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(2), April.
  • Handle: RePEc:ags:aareaj:292451
    DOI: 10.22004/ag.econ.292451
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    Cited by:

    1. Zawojska, Ewa & Bartczak, Anna & Czajkowski, Mikołaj, 2019. "Disentangling the effects of policy and payment consequentiality and risk attitudes on stated preferences," Journal of Environmental Economics and Management, Elsevier, vol. 93(C), pages 63-84.
    2. Franceschinis, Cristiano & Liebe, Ulf & Thiene, Mara & Meyerhoff, Jurgen & Field, Damien & McBratney, Alex, 2022. "The effect of social and personal norms on stated preferences for multiple soil functions: evidence from Australia and Italy," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 66(02), January.
    3. Gustavo García-Melero & Rubén Sainz-González & Pablo Coto-Millán & Alejandra Valencia-Vásquez, 2021. "Sustainable Mobility Policy Analysis Using Hybrid Choice Models: Is It the Right Choice?," Sustainability, MDPI, vol. 13(5), pages 1-16, March.
    4. Wiktor Budziński & Mikołaj Czajkowski, 2022. "Endogeneity and Measurement Bias of the Indicator Variables in Hybrid Choice Models: A Monte Carlo Investigation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 83(3), pages 605-629, November.
    5. Bartczak, Anna & Chilton, Susan & Czajkowski, Mikołaj & Meyerhoff, Jürgen, 2017. "Gain and loss of money in a choice experiment. The impact of financial loss aversion and risk preferences on willingness to pay to avoid renewable energy externalities," Energy Economics, Elsevier, vol. 65(C), pages 326-334.
    6. Cristiano Franceschinis & Ulf Liebe & Mara Thiene & Jürgen Meyerhoff & Damien Field & Alex McBratney, 2022. "The effect of social and personal norms on stated preferences for multiple soil functions: evidence from Australia and Italy," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 66(2), pages 335-362, April.
    7. Margrethe Aanesen & Mikołaj Czajkowski & Henrik Lindhjem & Ståle Navrud, 2022. "Trade-offs in the transition to a blue economy - Mapping social acceptance of aquaculture expansion in Norway," Working Papers 2022-16, Faculty of Economic Sciences, University of Warsaw.
    8. Michela Faccioli & Laure Kuhfuss & Mikołaj Czajkowski, 2019. "Stated Preferences for Conservation Policies Under Uncertainty: Insights on the Effect of Individuals’ Risk Attitudes in the Environmental Domain," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(2), pages 627-659, June.
    9. Zawojska, Ewa & Bartczak, Anna & Czajkowski, Mikotaj, 2017. "Disentangling impacts of payment and provision consequentiality and risk attitudes on stated preferences," Annual Meeting, 2017, June 18-21, Montreal, Canada 258602, Canadian Agricultural Economics Society.
    10. Rossetti, Tomás & Guevara, C. Angelo & Galilea, Patricia & Hurtubia, Ricardo, 2018. "Modeling safety as a perceptual latent variable to assess cycling infrastructure," Transportation Research Part A: Policy and Practice, Elsevier, vol. 111(C), pages 252-265.
    11. Valasiuk, Sviataslau & Czajkowski, Mikołaj & Giergiczny, Marek & Żylicz, Tomasz & Veisten, Knut & Mata, Iratxe Landa & Halse, Askill Harkjerr & Angelstam, Per, 2023. "Attitudinal drivers of home bias in public preferences for transboundary nature protected areas," Ecological Economics, Elsevier, vol. 208(C).

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