The optimal management of wetlands: quantifying trade-offs between flood risks, recreation and biodiversity conservation

Ekin Birol, Nick Hanley, Phoebe Koundouri () and Yiannis Kountouris

No 28.2007, Environmental Economy and Policy Research Working Papers from University of Cambridge, Department of Land Economics

Abstract: This paper employs a choice experiment to estimate the value of management options for the Bobrek wetland in Poland. The local public’s valuation of several wetland management attributes, including flood risk reduction, biodiversity conservation and improvement of recreational access, are investigated. A latent class model and a covariance heterogeneity model are estimated to account for heterogeneity in the preferences of the local public. The results reveal that there is considerable preference heterogeneity across the local public; however on average they derive the highest values from reductions of flooding risk. The results of this study are expected to assist policy makers in undertaking effective flood risk reduction measures and formulating efficient, equitable and sustainable wetland management policies in accordance with the European Union Water Framework Directive (2000/60/EC).

Keywords: choice experiment; latent class model; covariance heterogeneity model; flood risk; biodiversity conservation; recreation (search for similar items in EconPapers)
JEL-codes: Q2 Q4 R4 (search for similar items in EconPapers)
Date: 2007, Revised 2007
New Economics Papers: this item is included in nep-agr, nep-dcm and nep-env
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