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Valuing local endangered species: The role of intra-species substitutes

  • Loureiro, Maria L.
  • Ojea, Elena

Valuation of endangered species is important in many circumstances, and particularly when assessing the impact of large accidental oil spills. Previous studies have tested the effects of including in the contingent valuation survey reminders about the existence of diverse substitutes (in terms of other natural resources also in danger of extinction in the same area, other programs to be valued, or alternative uses of money). We include a reminder about the existence of the same biological species not being under danger of extinction elsewhere. We believe this reminder allows individuals to make an easy assessment of the biological scarcity of the species they are supposed to value. Thus, the key difference with previous studies is that valuation of endangered species is combined with an assessment of preferences towards conservation of local and native species. Our WTP results are not sensitive to the information provided about other foreign substitutes. Implications of this finding are discussed.

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Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 68 (2008)
Issue (Month): 1-2 (December)
Pages: 362-369

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Handle: RePEc:eee:ecolec:v:68:y:2008:i:1-2:p:362-369
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  1. Loureiro, Maria L. & Lotade-Manje, Justus, 2003. "Interviewer Effects On The Valuation Of Goods With Ethical And Environmental Attributes," 2003 Annual meeting, July 27-30, Montreal, Canada 22014, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  2. Neill Helen R., 1995. "The Context for Substitutes in CVM Studies: Some Empirical Observations," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages 393-397, November.
  3. Hoehn John P. & Loomis John B., 1993. "Substitution Effects in the Valuation of Multiple Environmental Programs," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 56-75, July.
  4. Erwin Bulte & G. van Kooten, 1999. "Marginal Valuation of Charismatic Species: Implications for Conservation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 14(1), pages 119-130, July.
  5. Bandara, Ranjith & Tisdell, Clement A., 2004. "Changing Abundance of Elephants and Willingness to Pay for their Conservation," Economic Theory, Applications and Issues Working Papers 90538, University of Queensland, School of Economics.
  6. John Loomis & Armando Gonzalez-Caban & Robin Gregory, 1994. "Do Reminders of Substitutes and Budget Constraints Influence Contingent Valuation Estimates?," Land Economics, University of Wisconsin Press, vol. 70(4), pages 499-506.
  7. Ian H Langford & Mihalis S Skourtos & Areti Kontogianni & Rosemary J Day & Stavros Georgiou & Ian J Bateman, 2001. "Use and nonuse values for conserving endangered species: the case of the Mediterranean monk seal," Environment and Planning A, Pion Ltd, London, vol. 33(12), pages 2219-2233, December.
  8. Catherine Chambers & John Whitehead, 2003. "A Contingent Valuation Estimate of the Benefits of Wolves in Minnesota," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 26(2), pages 249-267, October.
  9. Giraud, Kelly & Turcin, Branka & Loomis, John & Cooper, Joseph, 2002. "Economic benefit of the protection program for the Steller sea lion," Marine Policy, Elsevier, vol. 26(6), pages 451-458, November.
  10. Kristin Jakobsson & Andrew Dragun, 2001. "The Worth of a Possum: Valuing Species with the Contingent Valuation Method," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(3), pages 211-227, July.
  11. Atakelty Hailu & Wiktor Adamowicz & Peter Boxall, 2000. "Complements, Substitutes, Budget Constraints and Valuation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 16(1), pages 51-68, May.
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