Contingent valuation of a Taiwanese wetland

Citation
Jk. Hammitt et al., Contingent valuation of a Taiwanese wetland, ENVIR DEV E, 6, 2001, pp. 259-268
Citations number
18
Language
INGLESE
art.tipo
Article
Categorie Soggetti
EnvirnmentalStudies Geografy & Development
Journal title
ENVIRONMENT AND DEVELOPMENT ECONOMICS
ISSN journal
1355-770X → ACNP
Volume
6
Year of publication
2001
Part
2
Pages
259 - 268
Database
ISI
SICI code
1355-770X(200105)6:<259:CVOATW>2.0.ZU;2-V
Abstract
Wetlands provide a variety of important environmental services including fl ood control, wildlife habitat, waste treatment, and recreational opportunit ies. Because most of these services are public goods, the value of wetland preservation cannot be directly obtained from market prices but may be esti mated using revealed-preference or stated-preference methods. We estimate t he value to local residents of protecting the Kuantu wetland in Taiwan usin g contingent valuation. Estimates are sensitive to question format, with es timates using a double-bounded dichotomous-choice format about three times larger than estimates using a single open-ended question. Using the openend ed format, the estimated annual mean household willingness to pay to preser ve the Kuantu wetland is about US$21. Using the dichotomous-choice question s, the value is about US$65. These estimates suggest the total present-valu e willingness to pay to preserve Kuantu wetland is about US$200 million to US$1.2 billion (discounted at 5- 10%).