Perceived Economic Value of Ecosystem Services in the US Rio Grande Basin

Weiwei Wang, Jianhong E. Mu and Jadwiga R. Ziolkowska
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Weiwei Wang: School of Business, Nanjing University of Information Science and Technology, Nanjing 210044, China
Jianhong E. Mu: Environment and Planning Program, Texas A&M Transportation Institute, Texas A&M University System, Austin, TX 78752, USA
Jadwiga R. Ziolkowska: Department of Geography and Environmental Sustainability, University of Oklahoma, Norman, OK 73019, USA

Sustainability, 2021, vol. 13, issue 24, 1-16

Abstract: In recent decades, the US Rio Grande Basin has experienced serious ecosystem degradation as a result of recurring severe droughts and a growing population. Monetary valuation of ecosystem services is essential for encouraging conservation where natural resources such as freshwater are limited. Research in this field is still very limited, and economic estimations of ecosystem services in the US Rio Grande Basin have not been undertaken extensively. This study adds to the existing contemporary literature by means of the willingness-to-pay evaluation. We found the mean household wiliness to pay of total ecosystem services across the Rio Grande Basin to amount to USD 62/year, and the average perceived economic value was estimated to be USD 26.2, USD 19.7, USD 8.1, and USD 7.1 yearly for conservation of habitat for wildlife, provision of freshwater supplies, recreational activities, and cultural heritage, respectively. The income and perceptions about the importance of various ecosystem services in the Rio Grande Basin were among the main determinants of respondents’ assessments. The findings provide an appropriate foundation for incorporating perceived economic value into watershed management and conservation.

Keywords: willingness-to-pay; contingent valuation; ecosystem services; economic evaluation; Rio Grande (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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