Real-payment choice experiments: Valuing forested wetlands and spatial attributes within a landscape context

Laurie W. Newell and Stephen Swallow ()

Ecological Economics, 2013, vol. 92, issue C, 37-47

Abstract: We consider the choice experiment approach to valuation, due to its focus on tradeoffs between alternatives. Our study is not hypothetical, but implements a real-payment choice experiment (CE) for a multi-attribute good. We use two real wetland parcels to create over 18 descriptions of parcels for conservation under a 10-year development-rights contract. Our payment protocol mitigates incentives to understate willingness to pay through a provision point with a rebate of excess funds. Real choice questions captured significant values for spatial attributes of wetland conservation. Average respondents positively valued 73-acre parcels surrounded by woodland, but required 100acres for parcels surrounded by residential or farm land, and accepted a 19-acre smaller parcel in exchange for full public access.

Keywords: Choice experiments; Provision point; Proportional rebate; Field experiment; Wetland valuation; Real money; Revealed preference (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0921800912003242
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:92:y:2013:i:c:p:37-47

DOI: 10.1016/j.ecolecon.2012.08.008

Access Statistics for this article

Ecological Economics is currently edited by C. J. Cleveland

More articles in Ecological Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().