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Use of Dichotomous Choice Nonmarket Methods to Value the Whooping Crane Resource
Abstract
A dichotomous choice form of contingent valuation is applied to quantify individuals' economic surplus associated with preservation of the whooping crane resource. Specific issues and limitations of the empirical approach are discussed. The results of this case study reveal that models with similar statistical fits can lead to very disparate measures of economic value, regardless of whether the mean or median is chosen to estimate average willingness to pay. Such results suggest caution is necessary when applying dichotomous choice models in contingent valuation.
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Cited by
Economic benefits of rare and endangered species: summary and meta-analysis
Loomis, J. B., & White, D. S. (1996) · Ecological Economics · doi:10.1016/0921-8009(96)00029-8 · Cited by 567
Referendum contingent valuation, anchoring, and willingness to pay for public goods
Green, D., Jacowitz, K. E., Kahneman, D., & McFadden, D. (1998) · Resource and Energy Economics · doi:10.1016/s0928-7655(97)00031-6 · Cited by 489
Runge, M. C., Converse, S. J., & Lyons, J. E. (2011) · Biological Conservation · doi:10.1016/j.biocon.2010.12.020 · Cited by 450
The Need to Quantify Ecosystem Services Provided by Birds
Wenny, D. G., DeVault, T. L., Johnson, M. D., Kelly, D., H. Sekercioglu, C., Tomback, D. F., & Whelan, C. J. (2011) · The Auk · doi:10.1525/auk.2011.10248 · Cited by 417
Kristrom, B. (1990) · Land Economics · doi:10.2307/3146363 · Cited by 379
Metadata
- Authors
- Bowker, J. M., & Stoll, J. R.
- Venue
- American Journal of Agricultural Economics
- Publisher
- Wiley
- Published
- 1988-05
- Volume
- 70
- Issue
- 2
- Pages
- 372-381
- ISSN
- 0002-9092 (ISSN-L)
- 1467-8276
- OpenAlex
- W2134160386
- Cited by
- 207
- References
- 0
- FWCI
- 26.75
- Type
- journal article
- Language
- en
- Open access
- closed
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- Bowker, J. M., & Stoll, J. R. (1988). Use of Dichotomous Choice Nonmarket Methods to Value the Whooping Crane Resource. American Journal of Agricultural Economics. https://doi.org/10.2307/1242078
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