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The charisma premium: Iconic individuals and wildlife values

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Listed:
  • Costello, Christopher
  • Lewis, Lynne
  • Lynham, John
  • Richardson, Leslie

Abstract

We develop a new theory of the wildlife-viewing value of particularly “charismatic” individuals in a population. In contrast to the existing recreation literature, which typically treats all individuals as interchangeable, we allow for heterogeneous charisma within a population, and ask how this heterogeneity affects each individual’s marginal value. We find that more charismatic individuals confer higher value than their nondescript peers, populations with heterogeneous charisma are more valuable than homogeneous populations, and populations with more heterogeneous charisma raise the value of their most charismatic individuals. These results suggest that traditional approaches to wildlife-viewing valuation are inappropriate when specific individuals within the population are singled out as being more charismatic by wildlife viewers. We apply the model to bear viewing in Katmai National Park, Alaska (site of the famous Fat Bear competition). We find that the most charismatic individual (“Otis”) is more than an order of magnitude more valuable than the median bear. These results have implications for government agencies assigning damage values when individuals within a population are poached or accidentally killed.

Suggested Citation

  • Costello, Christopher & Lewis, Lynne & Lynham, John & Richardson, Leslie, 2023. "The charisma premium: Iconic individuals and wildlife values," Journal of Environmental Economics and Management, Elsevier, vol. 122(C).
    • Handle: RePEc:eee:jeeman:v:122:y:2023:i:c:s0095069623000906
    DOI: 10.1016/j.jeem.2023.102872
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    References listed on IDEAS

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    More about this item

    Keywords

    Charismatic; Valuation; Wildlife population;
    All these keywords.

    JEL classification:

    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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