Combining contingent valuation and choice experiments. A forestry application in Spain

Joan Mogas, Pere Riera, Raul Brey

Research output: Contribution to journalArticleResearchpeer-review

17 Citations (Scopus)

Abstract

When many good variants are to be valued, like in several forest management programs which differ in the attribute levels, the Contingent Valuation Method may not be a practical option, given the cost and time involved to value each variant separately. There are at least three alternative procedures in such situations. One (i) is to apply an attribute based valuation method like a Choice Experiment (CE); another (ii) is to conduct a CVM and a CE exercise and estimate a joint model; a third one (iii) is to use the CVM estimates to value a base scenario, and then use the CE results to adjust the CVM estimates for any new different scenario. A numerical simulation and an empirical application to an afforestation program in Spain show that the latter is the procedure that yields closer values to the CVM estimations, followed by (ii). © Springer Science+Business Media B.V. 2008.
Original languageEnglish
Pages (from-to)535-551
JournalEnvironmental and Resource Economics
Volume43
Issue number4
DOIs
Publication statusPublished - 1 Jan 2009

Keywords

  • Choice experiments
  • Choice modeling
  • Contingent valuation
  • Forest externalities
  • Forest valuation

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