Table of Contents

Handbook on Contingent Valuation

Handbook on Contingent Valuation

Elgar original reference

Edited by Anna Alberini and James R. Kahn

The Handbook on Contingent Valuation is unique in that it focuses on contingent valuation as a method for evaluating environmental change. It examines econometric issues, conceptual underpinnings, implementation issues as well as alternatives to contingent valuation. Anna Alberini and James Kahn have compiled a comprehensive and original reference volume containing invaluable case studies that demonstrate the implementation of contingent valuation in a wide variety of applications. Chapters include those on the history of contingent valuation, a practical guide to its implementation, the use of experimental approaches, an ecological economics perspective on contingent valuation and approaches for developing nations.

Chapter 14: Valuing Wildlife at Risk from Exotic Invaders in Yellowstone Lake

Todd L. Cherry, Jason F. Shogren and Peter Frykblom

Subjects: economics and finance, environmental economics, valuation, environment, environmental economics, valuation

Extract

Todd L. Cherry, Jason F. Shogren, Peter Frykblom and John A. List 14.1 Introduction In 1994, an angler caught a lake trout (Salvelinus namaycush) in Yellowstone Lake, Yellowstone National Park, Wyoming. Judging by the size of the trout, and from subsequent data provided by the US Fish and Wildlife Service, biologists now believe that someone must have illegally planted lake trout in the lake some five years earlier. They blame humans for the introduction because natural movement of this non-native species into Yellowstone Lake is improbable. Based on catch and mortality rates, biologists now estimate that thousands, maybe tens of thousands, of lake trout of several age classes, some capable of spawning, live in Yellowstone Lake (Kaeding et al., 1995). Yellowstone Lake is a prime spot for lake trout to flourish, because they thrive in the cold, deep water. But the problem is that Yellowstone Lake is the last premier inland cutthroat trout fishery in North America. And after years of working to restore the native Yellowstone cutthroat trout (oncorhynchus clarki bouvieri) population back to viable levels, lake trout are putting the last cutthroat stronghold at risk. Experts have concluded that the lake trout population is likely to expand and cause a serious decline in the cutthroat population. If left unchecked, some biologists have predicted that these voracious exotic species could reduce the catchable-size cutthroat population to 250 000–500 000 from 2.5 million within the near future (Kaeding et al., 1995). Lake trout eat cutthroat, but they do not...

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