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Valuing environmental impacts of coastal development projects: a choice modelling application in Spain

David Hoyos (), Pere Riera Micaló, Francisco Javier Fernández Macho, María Carmen Gallastegui Zulaika and Dolores García

No 2008-02, BILTOKI from Universidad del País Vasco - Departamento de Economía Aplicada III (Econometría y Estadística)

Abstract: Developmental monetary benefits of coast artificialisation projects are rarely confronted with the environmental benefits that its conservation may entail. As a consequence, policy-makers often face decision making processes in which monetary benefits have to be balanced with physical impacts ending up in undervaluation or overvaluation of environmental aspects. Non-market valuation of coastal and marine resources is thus a growing concern in the assessment of cost-benefit analysis of coastal developmental projects. This paper attempts to estimate the effects on people’s utility of the potential environmental impacts of a new seaport in Pasaia, Spain. A choice modelling technique is proposed as a means of estimating marginal impacts for different environmental attributes of mount Jaizkibel, namely its landscape, flora, avifauna and seabed. The results from a multinomial logit model reveal that, on average, individuals would pay 1.39 euros for a one percentage protection of its landscape; 0.87 euros for protecting its flora; 0.68 euros for protecting its avifauna; and 0.63 euros for protecting its seabed.

Keywords: choice modelling; environmental valuation; social welfare (search for similar items in EconPapers)
JEL-codes: Q51 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:ehu:biltok:5584

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Dpto. de Econometría y Estadística, Facultad de CC. Económicas y Empresariales, Universidad del País Vasco, Avda. Lehendakari Aguirre 83, 48015 Bilbao, Spain

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