INFORMATION DISCLOSURE AND ENDANGERED SPECIES VALUATION
Karl C. Samples,
John A. Dixon and
Marcia M. Gowen
No 278634, 1985 Annual Meeting, August 4-7, Ames, Iowa from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
A conceptual household production model is proposed which illuminates how information disclosed to respondents can influence reported willingness to pay(WTP) to preserve unique resources such as endangered animal species. The model indicates that information disclosure can influence reported WTP both by altering respondents' marginal rate of substitution of income for the resource being valued, and by changing the perceived efficiency of money investment in specific preservation activities. Results of a controlled experiment are described to empirically evaluate the link between reported WTP to preserve humpback whales and information disclosed about their physical and behavioral characteristics, and endangered status. Significant differences (at the 0.20 level) in mean reported WTP were observed between experimental and control groups exposed to differing levels of descriptive information concerning humpback whales. Additional empirical results show that information pertaining to physical characteristics and endangered status • significantly influenced respondents' allocations of fixed budget amounts among animal preservation funds.
Keywords: Environmental Economics and Policy; Land Economics/Use (search for similar items in EconPapers)
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