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Local Perception of Public Goods: Recent Assessments of Willingness‐to‐pay for Endangered Species
Author(s) -
Stanley Denise L.
Publication year - 2005
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1093/cep/byi013
Subject(s) - endangered species , willingness to pay , contingent valuation , biodiversity , valuation (finance) , habitat , business , public economics , public opinion , natural resource economics , economics , environmental resource management , geography , ecology , finance , political science , biology , politics , microeconomics , law
A contingent valuation mail survey was administered in late 2001 to better understand current public opinion about controversial endangered species preservation in Orange County, California. Questionnaire design focused on additional taxes residents would be willing to pay to support recovery plans. Habitat and recovery of a single species, the Riverside fairy shrimp, is valued at around $25 per household, and the valuation is significantly changed by the higher scope of the public good provided, with an annual willingness‐to‐pay of around $50–60 per household for all local endangered species. Across the whole county, the public valuation of biodiversity is substantial yet probably could not fund necessary land acquisition for critical habitat, so continued national support for species preservation remains logical. (JEL Q51 , Q57 , Q58 )