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Valuing improved wetland quality using choice modeling
Author(s) -
Morrison Mark,
Bennett Jeff,
Blamey Russell
Publication year - 1999
Publication title -
water resources research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.863
H-Index - 217
eISSN - 1944-7973
pISSN - 0043-1397
DOI - 10.1029/1999wr900020
Subject(s) - choice modelling , valuation (finance) , estimation , explanatory power , econometrics , contingent valuation , marsh , environmental quality , wetland , environmental resource management , resource (disambiguation) , willingness to pay , environmental economics , environmental science , computer science , economics , statistics , mathematics , ecology , microeconomics , philosophy , epistemology , biology , computer network , management , finance
The main stated preference technique used for estimating environmental values is the contingent valuation method. In this paper the results of an application of an alternative technique, choice modeling, are reported. Choice modeling has been developed in the marketing and transport applications but has only been used in a handful of environmental applications, most of which have focused on use values. The case study presented here involves the estimation of the nonuse environmental values provided by the Macquarie Marshes, a major wetland in New South Wales, Australia. Estimates of the nonuse value the community places on preventing job losses are also presented. The reported models are robust, having high explanatory power and variables that are statistically significant and consistent with expectations. These results provide support for the hypothesis that choice modeling can be used to estimate nonuse values for both environmental and social consequences of resource use changes.