On the importance of discrete choice experiment framings to derive accounting values for ecosystem and species appreciation services

Developing monetary ecosystem accounts requires the estimation of exchange values. While flows of non-use services (e.g., the value derived from the mere existence of a species) are currently not considered as ecosystem services by the United Nations System of Environmental Economic Accounting – Ecosystem Accounts (SEEA – EA) framework, they may be recorded as Ecosystem and Species Appreciation (ESA) services. Estimating exchange values for these services relies on non-market valuation methods. Arguably the most suitable method for this purpose is a Discrete Choice Experiment (DCE). Transforming marginal values obtained from a DCE into exchange values can be complex and presents a range of potential pitfalls. In this paper, we present an approach that allows translating marginal Willingness-To-Pay (WTP) estimates into exchange values for ESA services for representative sets of framings of the DCE valuation question. We show the applicability of this approach using case studies of Australian species and ecosystems, representing both constant and non-constant WTP estimates for choice attributes. It is a relatively flexible approach for estimating exchange values for ESA services.