Wednesday, March 31, 2010
Measuring the Benefits of Heterogeneous Wetlands using Contingent Valuation and Ecological Field Appraisals
"...Another feature of this study is the extensive integration of ecological functions with the economic value of functions. Economic function willingness-to-pay values are elicited for a generic wetland and then mapped into a ecological function matrix in order to value location specific, heterogeneous wetlands. We show how these values can be applied in the field with policy relevant Missouri wetland applications. The benefit estimate from the single CVM/biological model could then be transferred to other wetlands at little cost relative to additional CVM studies (the paper)."