Incorporating expert knowledge in the estimate of farmers’ opportunity cost of supplying environmental services in rural Cameroon

Claudiane Yanick Moukam and Calvin Atewamba

Bio-based and Applied Economics Journal, 2023, vol. 12, issue 3

Abstract: This paper applies a Bayesian approach to incorporate non-data information in estimating the opportunity cost for farmers in rural Cameroon to engage in biodiversity conservation and carbon sequestration efforts. Findings from our field survey reveal that only a small percentage of farmers are willing to participate in environmental protection programmes without compensation. A multidimensional preferences analysis indicates that this behavior may be attributed to a disconnection between environmental values and socioeconomic values. Bayesian analysis of the Tobit model, examining Willingness to Accept (WTA) compensation for agroforestry participation, highlights that factors such as aging, higher educational attainment, and higher socioeconomic status are highly likely to promote pro-environmental behaviors. The estimated opportunity cost of supplying environmental services is 10,775 CFA francs with a standard deviation of 333.6 CFA francs per farmer. These results differ qualitatively from the existing literature, underscoring the relative significance of considering expert knowledge in the interpretation of environmental policies.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aieabj:347562

DOI: 10.22004/ag.econ.347562

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