A Contingent Valuation Estimate of the Benefits of Wolves in Minnesota

Catherine Chambers and John Whitehead

Environmental & Resource Economics, 2003, vol. 26, issue 2, 249-267

Abstract: In this paper we estimate the willingness topay for a wolf management plan and a wolfdamage plan in Minnesota using the contingentvaluation method. The theoretical definition ofwillingness to pay for wolf protection iscomposed of use and non-use values. Weincorporate a don't know response option in thedichotomous choice valuation questions. A largenumber of respondents answered don't know. Themultinomial logit model is used todifferentiate between don't know and noresponses. Non-use motives are importantfactors that explain willingness to pay. We usethese benefit estimates in combination with twoalternative cost estimates to consider theefficiency of the wolf management and damageplans. Both plans have estimated benefitsgreater than costs. Copyright Kluwer Academic Publishers 2003

Keywords: CVM; endangered species; willingness to pay (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (22)

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DOI: 10.1023/A:1026356020521

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