IDEAS home Printed from https://ideas.repec.org/a/kap/enreec/v14y1999i1p119-130.html
   My bibliography  Save this article

Marginal Valuation of Charismatic Species: Implications for Conservation

Author

Listed:
  • Erwin Bulte
  • G. van Kooten

Abstract

Most contingent valuation studies focus on total willingness to pay (WTP) as a measure of welfare change. For policy involving species preservation, however, it is important to distinguish between the benefits of preventing a species from going extinct and the benefits of preserving numbers above the minimum viable population (MVP) level. Once MVP is exceeded, marginal WTP becomes relevant. These propositions are illustrated for the case of one charismatic species whose management is much debated, minke whales in the Northeast Atlantic Ocean. It is shown that, for a given estimate of total preservation value, strict conservation and extinction can both be optimal. This finding highlights the importance of collecting marginal values in contingent valuation surveys. Copyright Kluwer Academic Publishers 1999

Suggested Citation

  • Erwin Bulte & G. van Kooten, 1999. "Marginal Valuation of Charismatic Species: Implications for Conservation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 14(1), pages 119-130, July.
    • Handle: RePEc:kap:enreec:v:14:y:1999:i:1:p:119-130
    DOI: 10.1023/A:1008309816658
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1023/A:1008309816658
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1023/A:1008309816658?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Bulte, Erwin & Folmer, Henk & Heijman, Wim, 1998. "Dynamic and Static Approaches to Mixed Good Management: The Case of Minke Whales in the Northeast Atlantic," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 25(1), pages 73-91.
    2. Tanguay, M. & Adamowicz, W. & Boxall, P. & Phillips, W. & White, W., 1993. "A Socio-Economic Evaluation of Woodland Caribou in Northwestern Saskatchewan," Project Report Series 232366, University of Alberta, Department of Resource Economics and Environmental Sociology.
    3. Clark, Colin W, 1973. "Profit Maximization and the Extinction of Animal Species," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 950-961, July-Aug..
    4. Smith, V. Kerry & Osborne, Laura L., 1996. "Do Contingent Valuation Estimates Pass a "Scope" Test? A Meta-analysis," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 287-301, November.
    5. Brown, G. & Layton, D. & Lazo, J., 1994. "Valuing Habitat and Endangered Species," Discussion Papers in Economics at the University of Washington 94-1, Department of Economics at the University of Washington.
    6. Andrew Metrick & Martin L. Weitzman, 1996. "Patterns of Behavior in Endangered Species Preservation," Land Economics, University of Wisconsin Press, vol. 72(1), pages 1-16.
    7. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
    8. Cropper, M. L., 1988. "A note on the extinction of renewable resources," Journal of Environmental Economics and Management, Elsevier, vol. 15(1), pages 64-70, March.
    9. Heidi Albers & Anthony Fisher & W. Hanemann, 1996. "Valuation and management of tropical forests," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 8(1), pages 39-61, July.
    10. Loomis, John B. & White, Douglas S., 1996. "Economic benefits of rare and endangered species: summary and meta-analysis," Ecological Economics, Elsevier, vol. 18(3), pages 197-206, September.
    11. David J. Bjornstad & James R. Kahn (ed.), 1996. "The Contingent Valuation of Environmental Resources," Books, Edward Elgar Publishing, number 731.
    12. Kevin J. Boyle & Gregory L. Poe & John C. Bergstrom, 1994. "What Do We Know About Groundwater Values? Preliminary Implications from a Meta Analysis of Contingent-Valuation Studies," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(5), pages 1055-1061.
    13. Montgomery Claire A. & Brown Jr. , Gardner M. & Adams Darius M., 1994. "The Marginal Cost of Species Preservation: The Northern Spotted Owl," Journal of Environmental Economics and Management, Elsevier, vol. 26(2), pages 111-128, March.
    14. Brown, G. & Layton, D. & Lazo, J., 1994. "Valuing Habitat and Endangered Species," Working Papers 94-1, University of Washington, Department of Economics.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ressurreição, Adriana & Gibbons, James & Dentinho, Tomaz Ponce & Kaiser, Michel & Santos, Ricardo S. & Edwards-Jones, Gareth, 2011. "Economic valuation of species loss in the open sea," Ecological Economics, Elsevier, vol. 70(4), pages 729-739, February.
    2. Ojea, Elena & Loureiro, Maria L., 2011. "Identifying the scope effect on a meta-analysis of biodiversity valuation studies," Resource and Energy Economics, Elsevier, vol. 33(3), pages 706-724, September.
    3. Rondeau, Daniel, 2001. "Along the Way Back from the Brink," Journal of Environmental Economics and Management, Elsevier, vol. 42(2), pages 156-182, September.
    4. Bergstrom, John C. & Taylor, Laura O., 2006. "Using meta-analysis for benefits transfer: Theory and practice," Ecological Economics, Elsevier, vol. 60(2), pages 351-360, December.
    5. Mazzanti, Massimiliano, 2001. "The role of economics in global management of whales: re-forming or re-founding IWC?," Ecological Economics, Elsevier, vol. 36(2), pages 205-221, February.
    6. Shuang Liu & David I Stern, 2008. "A Meta-Analysis of Contingent Valuation Studies in Coastal and Near-Shore Marine Ecosystems," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2008-15, CSIRO Sustainable Ecosystems.
    7. Rosenberger, Randall S. & Loomis, John B., 2000. "Panel Stratification In Meta-Analysis Of Economic Studies: An Investigation Of Its Effects In The Recreation Valuation Literature," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(3), pages 1-12, December.
    8. Barrio, Melina & Loureiro, Maria L., 2010. "A meta-analysis of contingent valuation forest studies," Ecological Economics, Elsevier, vol. 69(5), pages 1023-1030, March.
    9. Polasky, Stephen & Costello, Christopher & Solow, Andrew, 2005. "The Economics of Biodiversity," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 3, chapter 29, pages 1517-1560, Elsevier.
    10. Gardner M. Brown & Jason F. Shogren, 1998. "Economics of the Endangered Species Act," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 3-20, Summer.
    11. V. Smith & Subhrendu Pattanayak, 2002. "Is Meta-Analysis a Noah's Ark for Non-Market Valuation?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 22(1), pages 271-296, June.
    12. Erda Wang & Ling Zhao & Ying Zhou & Bertis B. Little, 2013. "Valuing Outdoor Recreation Activities Using a Meta-Analysis Model in China: An Empirical Study," Tourism Economics, , vol. 19(2), pages 415-432, April.
    13. Rosenberger, Randall S. & Loomis, John B. & Shrestha, Ram K., 1999. "Panel Stratification In Meta-Analysis Of Environmental And Natural Resource Economic Studies," 1999 Annual Meeting, July 11-14, 1999, Fargo, ND 35705, Western Agricultural Economics Association.
    14. Poe, Gregory L. & Boyle, Kevin J. & Bergstrom, John C., 2000. "A Meta Analysis Of Contingent Values For Groundwater Quality In The United States," 2000 Annual meeting, July 30-August 2, Tampa, FL 21871, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. Woodward, Richard T. & Wui, Yong-Suhk, 2001. "The economic value of wetland services: a meta-analysis," Ecological Economics, Elsevier, vol. 37(2), pages 257-270, May.
    16. Kohn, Robert E., 1999. "Thresholds and complementarities in an economic model of preserving and conserving biodiversity," Socio-Economic Planning Sciences, Elsevier, vol. 33(2), pages 151-172, June.
    17. Subroy, Vandana & Gunawardena, Asha & Polyakov, Maksym & Pandit, Ram & Pannell, David J., 2019. "The worth of wildlife: A meta-analysis of global non-market values of threatened species," Ecological Economics, Elsevier, vol. 164(C), pages 1-1.
    18. Allen, Bryon & Loomis, John B., 2004. "Economic Value of Original Non-Market Valuation Research," 2004 Annual meeting, August 1-4, Denver, CO 20263, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    19. Rosenberger, Randy & Loomis, John & Shrestha, Ram, 1999. "Meta-Analysis of Outdoor Recreational Use Value Estimates: Convergent Validity Tests," Western Region Archives 321710, Western Region - Western Extension Directors Association (WEDA).
    20. Richardson, Leslie & Loomis, John, 2009. "The total economic value of threatened, endangered and rare species: An updated meta-analysis," Ecological Economics, Elsevier, vol. 68(5), pages 1535-1548, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:enreec:v:14:y:1999:i:1:p:119-130. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.