Preferencias inciertas y modelo Spike en la valoración del patrimonio natural

Jose Maria Casado Garcia (), Jesús Barreiro-Hurlé and Luis Perez y Perez
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Luis Perez y Perez: Agri-food Research & Technology Center

Microeconomics from EconWPA

Abstract: Under the Spanish conservation law, compensation is envisaged for the damage associated with all actions that reduce the quantity or quality of protected areas and species. This paper provides a tool to evaluate the monetary equivalent of this damage. First, we conduct a contingent valuation exercise to estimate the existence value related to protected areas and species in Aragon. This first estimate is then reconsidered including in first place the possibility of zero bids and also the possibility of uncertain preferences for non familiar goods. Considering these two effects, mean values are reduced dramatically (more than halved) giving support to previous recommendations of dividing by two contingent valuation estimates from dichotomous choice question formats.

Keywords: Natural heritage; contingent valuation; Spike model; uncertainty (search for similar items in EconPapers)
JEL-codes: B23 C24 C42 C52 D62 Q26 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cul and nep-mic
Date: Written
Note: Type of Document - pdf; pages: 42

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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpmi:0403002

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