Contingent valuation of natural resources: a case study for Sicily
In this paper we use the Contingent Evaluation methodology to develop an economic evaluation of natural resources in a protected marine area of Sicily. Assuming a non-Normal distribution for the ML estimation, the paper shows that a variant of the stochastic utility model appears to capture well the dependence of the willingness to pay (WTP) on the socioeconomic characteristics of a sample of stakeholders of the natural resources in question. The estimates obtained are consistent and robust across different policy measures, no embedding or sequencing effects emerge and option values appear also to have been elicited in a consistent way. Once these values are added to the basic WTP, the income elasticities estimated fall in the range reported by other studies.
|Date of creation:||Jan 2008|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.istat.it/en/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:isa:wpaper:91. 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: (Stefania Rossetti)
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.