Chapter 4: Valuing Changes in Farmland Biodiversity Using Stated Preference Techniques
Mike Christie, Nick Hanley, John Warren, Tony Hyde, Kevin Murphy and Robert Wright INTRODUCTION The aims of this chapter are to identify problems surrounding the economic valuation of ‘biodiversity’, and then to present results from a recent stated preference study on changes in biodiversity on UK farmland, which attempts to get around one major problem, namely the information deﬁcit that typiﬁes the knowledge level of most members of the general public regarding biodiversity. We also provide a ﬁrst choice experiment estimation of the attributes of biodiversity, an approach that may prove useful in developing policy on biodiversity protection and enhancement; obtain contingent valuation estimates for different policies, which would increase biodiversity on farmland; and compare values obtained using standard survey procedures with those obtained using the ‘valuation workshop’ technique (Macmillan et al., 2003). Finally, we test for beneﬁts transfer in both values and valuation functions across geographic areas. In what follows, the ﬁrst section discusses motivations for estimating biodiversity values and problems encountered, whilst the second presents a brief review of the literature. Our study design is explained in the third section, with results presented in the fourth. A discussion concludes the chapter. WHY DO WE WANT TO ESTIMATE THE ECONOMIC VALUE OF BIODIVERSITY? Society needs to make difﬁcult decisions regarding its use of biological resources, for example in terms of habitat conservation, or changing how we 50 Pearce 01 chap01 50 20/10/06 11:44:20 Valuing changes in farmland biodiversity 51 manage farmland through agri-environmental...
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