An Application of Stated Preference Non-Market Valuation to Value Improvements to Threatened and Endangered Species Public Deposited

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  • Non-market valuation research has produced value estimates for over forty threatened and endangered (T&E) species, including mammals, fish, birds, and crustaceans. Increasingly Stated Preference Choice Experiments (SPCE) are utilized for valuation, as the format offers flexibility for policy analysis and may reduce certain types of response biases as compared to the more traditional Contingent Valuation method. Additionally, SPCE formats can allow respondents to make trade-offs among multiple species, providing information on the distinctiveness of preferences for different T&E species. In this paper we present results of a SPCE involving three U.S. ESA-listed species: the Puget Sound Chinook salmon Oncorhynchus tshawytscha, the Hawaiian monk seal Monachus schauinslandi, and the smalltooth sawfish Pristis pectinata. We estimate values for improving each species ESA listing status and statistically compare WTP among the three species using a method of convolutions approach. Our results suggest that respondents have distinct preferences for the three species, and that WTP estimates differ, depending on the species and the level of improvement to their ESA-status. Further, we find that even slight improvements to all three species seem to be more valuable than scenarios where one or two species recover but the third species remains at its statusquo level. Our results should be of interest to researchers and policymakers, as we provide value estimates for three species that have limited, if any, estimates available in the economics literature, as well as new information about the way respondents make trade-offs among three taxonomically different species.
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  • Wallmo, Kristy and Daniel Lew. 2010. An Application of Stated Preference Non-Market Valuation to Value Improvements to Threatened and Endangered Species. In: Proceedings of the Fifteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 13-16, 2010, Montpellier, France: Economics of Fish Resources and Aquatic Ecosystems: Balancing Uses, Balancing Costs. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2010.
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