Hanley, N.D. and Ruffell, R.J. (1993) The contingent valuation of forest characteristics: two experiments. Journal of Agricultural Economics, 44(2), pp. 218-229. (doi: 10.1111/j.1477-9552.1993.tb00267.x)
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Abstract
Most work on valuing the recreational benefits of public forests has concentrated on estimating consumers' surplus per visit. We use two contingent valuation approaches to try to place a value on the physical characteristics of British forests, and hence to explain the variation in consumers' surplus across different forest types. Our two approaches are, first, to obtain incremental willingness-to-pay to access forests with different levels of a number of characteristics by showing visitors pairs of photographs; and second, to use characteristic levels as explanatory variables in a bid curve. We find that forest characteristics are in general poor predictors of willingness to pay.
Item Type: | Articles |
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Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | Hanley, Professor Nicholas |
Authors: | Hanley, N.D., and Ruffell, R.J. |
College/School: | College of Medical Veterinary and Life Sciences > School of Biodiversity, One Health & Veterinary Medicine |
Journal Name: | Journal of Agricultural Economics |
Publisher: | Wiley |
ISSN: | 0021-857X |
ISSN (Online): | 1477-9552 |
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