Economic valuation of species loss in the open sea
Although the oceans cover 70% of the surface of the planet few studies have considered the economic valuation of marine biodiversity, despite the importance of such information for marine management and conservation. This study uses a contingent valuation method to estimate the public's willingness to pay (WTP) to avoid loss in the number of marine species in the waters around the Azores archipelago. We estimated the marginal value associated with increased levels of species loss (10% and 25%) in five marine taxa (mammals, fish, algae, birds and invertebrates) and all marine species considered as a whole, via a face to face survey of residents and visitors to two Azorean islands. The results suggest small but statistically significant differences in the WTP to prevent losses in the different taxa (mammalsÂ =Â fishÂ >Â birdsÂ =Â invertebratesÂ =Â algae). The results also suggest a greater WTP to preserve all marine taxa as a whole, than for a series of individual marine taxa. The valuation of the ecosystem and taxa may be influenced by the maritime culture of the respondents, but despite this, the findings challenge the commonly held premise that charismatic taxa have a disproportionately strong influence on WTP, and they provide important insights into human preferences for biodiversity conservation.
If 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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
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.:
- Spash, Clive L. & Urama, Kevin & Burton, Rob & Kenyon, Wendy & Shannon, Peter & Hill, Gary, 2009. "Motives behind willingness to pay for improving biodiversity in a water ecosystem: Economics, ethics and social psychology," Ecological Economics, Elsevier, vol. 68(4), pages 955-964, February.
- Massimo Paradiso & Antonella Trisorio, 2001. "The effect of knowledge on the disparity between hypothetical and real willingness to pay," Applied Economics, Taylor & Francis Journals, vol. 33(11), pages 1359-1364.
- Whitehead John C. & Blomquist Glenn C. & Hoban Thomas J. & Clifford William B., 1995. "Assessing the Validity and Reliability of Contingent Values: A Comparison of On-Site Users, Off-Site Users, and Non-users," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 238-251, September.
- Chaudhry, Pradeep & Singh, Bilas & Tewari, Vindhya P., 2007. "Non-market economic valuation in developing countries: Role of participant observation method in CVM analysis," Journal of Forest Economics, Elsevier, vol. 13(4), pages 259-275, November.
- Turpie, Jane K., 2003. "The existence value of biodiversity in South Africa: how interest, experience, knowledge, income and perceived level of threat influence local willingness to pay," Ecological Economics, Elsevier, vol. 46(2), pages 199-216, September.
- Nunes, Paulo A. L. D. & van den Bergh, Jeroen C. J. M., 2001. "Economic valuation of biodiversity: sense or nonsense?," Ecological Economics, Elsevier, vol. 39(2), pages 203-222, November.
- Christie, Mike & Hanley, Nick & Warren, John & Murphy, Kevin & Wright, Robert & Hyde, Tony, 2006. "Valuing the diversity of biodiversity," Ecological Economics, Elsevier, vol. 58(2), pages 304-317, June.
- Thomas H. Stevens & Jaime Echeverria & Ronald J. Glass & Tim Hager & Thomas A. More, 1991. "Measuring the Existence Value of Wildlife: What Do CVM Estimates Really Show?," Land Economics, University of Wisconsin Press, vol. 67(4), pages 390-400.
- 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.
- 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.
- 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.
- Jennifer Tkac, 1998. "The Effects of Information on Willingness-to-Pay Values of Endangered Species," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(5), pages 1214-1220.
- Chilton, S. M. & Hutchinson, W. G., 2003. "A qualitative examination of how respondents in a contingent valuation study rationalise their WTP responses to an increase in the quantity of the environmental good," Journal of Economic Psychology, Elsevier, vol. 24(1), pages 65-75, February.
- Cameron, Trudy Ann & Huppert, Daniel D., 1989. "OLS versus ML estimation of non-market resource values with payment card interval data," Journal of Environmental Economics and Management, Elsevier, vol. 17(3), pages 230-246, November.
- Carson, Richard T & Flores, Nicholas A, 2000.
"Contingent Valuation: Controversies and Evidence,"
University of California at San Diego, Economics Working Paper Series
qt75k752s7, Department of Economics, UC San Diego.
- Adams, Cristina & Seroa da Motta, Ronaldo & Ortiz, Ramón Arigoni & Reid, John & Ebersbach Aznar, Cristina & de Almeida Sinisgalli, Paulo Antonio, 2008. "The use of contingent valuation for evaluating protected areas in the developing world: Economic valuation of Morro do Diabo State Park, Atlantic Rainforest, São Paulo State (Brazil)," Ecological Economics, Elsevier, vol. 66(2-3), pages 359-370, June.
- 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.
- 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.
- Joe Kerkvliet, 1997. "A Randomized Response Approach to Dichotomous Choice Contingent Valuation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 252-266.
- Zhongmin, Xu & Guodong, Cheng & Zhiqiang, Zhang & Zhiyong, Su & Loomis, John, 2003. "Applying contingent valuation in China to measure the total economic value of restoring ecosystem services in Ejina region," Ecological Economics, Elsevier, vol. 44(2-3), pages 345-358, March.
- 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.
- Ian Langford* & Areti Kontogianni & Mihalis Skourtos & Stavros Georgiou & Ian Bateman, 1998. "Multivariate Mixed Models for Open-Ended Contingent Valuation Data: Willingness To Pay For Conservation of Monk Seals," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 12(4), pages 443-456, December.
- Samnaliev, Mihail & Stevens, Thomas H. & More, Thomas, 2006. "A comparison of alternative certainty calibration techniques in contingent valuation," Ecological Economics, Elsevier, vol. 57(3), pages 507-519, May.
- Carson, Richard T & Wilks, Leanne & Imber, David, 1994. "Valuing the Preservation of Australia's Kakadu Conservation Zone," Oxford Economic Papers, Oxford University Press, vol. 46(0), pages 727-49, Supplemen.
- Turner, R. K. & Adger, W. N. & Brouwer, R., 1998. "Ecosystem services value, research needs, and policy relevance: a commentary," Ecological Economics, Elsevier, vol. 25(1), pages 61-65, April.
- Turner, R. Kerry & Paavola, Jouni & Cooper, Philip & Farber, Stephen & Jessamy, Valma & Georgiou, Stavros, 2003. "Valuing nature: lessons learned and future research directions," Ecological Economics, Elsevier, vol. 46(3), pages 493-510, October.
- Brown, G. & Layton, D. & Lazo, J., 1994. "Valuing Habitat and Endangered Species," Working Papers 94-1, University of Washington, Department of Economics.
- Jones, Nikoleta & Sophoulis, Costas M. & Malesios, Chrisovaladis, 2008. "Economic valuation of coastal water quality and protest responses: A case study in Mitilini, Greece," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(6), pages 2478-2491, December.
- Karl C. Samples & John A. Dixon & KMarcia M. Gowen, 1986. "Information Disclosure and Endangered Species Valuation," Land Economics, University of Wisconsin Press, vol. 62(3), pages 306-312.
- Boyle Kevin J. & Desvousges William H. & Johnson F. Reed & Dunford Richard W. & Hudson Sara P., 1994. "An Investigation of Part-Whole Biases in Contingent-Valuation Studies," Journal of Environmental Economics and Management, Elsevier, vol. 27(1), pages 64-83, July.
- Jorgensen, Bradley S. & Wilson, Mathew A. & Heberlein, Thomas A., 2001. "Fairness in the contingent valuation of environmental public goods: attitude toward paying for environmental improvements at two levels of scope," Ecological Economics, Elsevier, vol. 36(1), pages 133-148, January.
- Andrew Metrick & Martin L. Weitzman, 1996. "Patterns of Behavior in Endangered Species Preservation," Land Economics, University of Wisconsin Press, vol. 72(1), pages 1-16.
- Nijkamp, Peter & Vindigni, Gabriella & Nunes, Paulo A.L.D., 2008. "Economic valuation of biodiversity: A comparative study," Ecological Economics, Elsevier, vol. 67(2), pages 217-231, September.
- Brown, G. & Layton, D. & Lazo, J., 1994. "Valuing Habitat and Endangered Species," Discussion Papers in Economics at the University of Washington 94-1, Department of Economics at the University of Washington.
- Loomis John & Lockwood Michael & DeLacy Terry, 1993. "Some Empirical Evidence on Embedding Effects in Contingent Valuation of Forest Protection," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 45-55, July.
- Brown, Kelly M. & Taylor, Laura O., 2000. "Do as you say, say as you do: evidence on gender differences in actual and stated contributions to public goods," Journal of Economic Behavior & Organization, Elsevier, vol. 43(1), pages 127-139, September.
- J. M. Bowker & John R. Stoll, 1988. "Use of Dichotomous Choice Nonmarket Methods to Value the Whooping Crane Resource," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(2), pages 372-381.
When requesting a correction, please mention this item's handle: RePEc:eee:ecolec:v:70:y:2011:i:4:p:729-739. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
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.