A Contingent Valuation Study of Uncertain Environmental Gains

Douglas Macmillan, Nick Hanley and Steve Buckland

Scottish Journal of Political Economy, 1996, vol. 43, issue 5, 519-33

Abstract: Acid deposition is a present and future cause of uncertain biodiversity losses in upland areas of Scotland important for nature conservation. Uncertainty complicates damage cost estimation and, in this paper, the authors explore the use of contingent valuation to measure willingness to pay for reduced acidification damage. Average willingness to pay was L247 and L351 per year per household under low and high damage scenarios respectively. Recovery level and recovery time did not significantly influence mean willingness to pay. When faced with risky outcomes regarding future damage and recovery, respondents were found to be risk averse to both environmental gains and losses. Copyright 1996 by Scottish Economic Society.

Date: 1996
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Scottish Journal of Political Economy is currently edited by Tim Barmby, Andrew Hughes-Hallett and Campbell Leith

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