Contingent valuation versus choice experiments: Estimating the benefits of environmentally sensitive areas in Scotland

Hanley, Nick and MacMillan, Douglas C. and Wright, Robert E. and Bullock, Craig and Simpson, Ian and Parsisson, Dave and Crabtree, Bob (1998) Contingent valuation versus choice experiments: Estimating the benefits of environmentally sensitive areas in Scotland. Journal of Agricultural Economics, 49 (1). pp. 1-15. ISSN 0021-857X . (Full text available)

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http://dx.doi.org/10.1111/j.1477-9552.1998.tb01248...

Abstract

This paper reports results from a study of the economic value of the conservation benefits of Environmentally Sensitive Areas (ESAs) in Scotland. The main novelty of the approach taken is in comparing two direct valuation methods, namely contingent valuation and choice experiments, to value these benefits. The Contingent Valuation Method (CVM) is well-established as a technique for valuing the sorts of landscape and wildlife enhancements associated with ESAs. The CVM experiment reported here uses a dichotomous choice format, and includes a new correction for part-whole bias. Choice experiments are much less used as an environmental valuation technique. We note several advantages of such experiments over CVM, and then report characteristic values and 'programme values' estimated using the method. This application brings to light some problems in applying the choice experiment method. Finally, we discuss the issue of benefits transfer in the context of these two approaches to valuation.

Item Type: Article
Subjects: S Agriculture
H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > School of Anthropology and Conservation > DICE (Durrell Institute of Conservation and Ecology)
Depositing User: Douglas MacMillan
Date Deposited: 23 Oct 2009 10:36
Last Modified: 30 May 2014 08:41
Resource URI: http://kar.kent.ac.uk/id/eprint/23104 (The current URI for this page, for reference purposes)
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