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Marginal Valuation of Charismatic Species: Implications for Conservation

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  • 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
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    References listed on IDEAS

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