Benefit Transfer in the Field: Measuring the Benefits of Heterogeneous Wetlands using Contingent Valuation and Ecological Field Appraisals

Abstract

Wetlands have functional values that may extend beyond traditional real estate values. This paper uses contingent valuation and ecological field assessments to place heterogeneous values on heterogeneous wetlands. Wetland functions evaluated are water quality, habitat, recreation, storing floodwaters and erosion abatement. The model used incorporates the public value of wetland functions and adds that value to the common local appraisal cost. We use a “percentage willingness-to-pay” value elicitation question in which respondents are asked about the percentage amount that the state government should pay over and above market value to purchase and preserve a wetland function. These values are then mapped into an ecological matrix to value the wetland as a whole. We show how these values can be applied in the field. Key Words: wetlands, appraisal, evaluation, mitigation, contingent valuation methodLength: