RT Journal Article
SR Electronic
T1 Does One Size Really Fit All? Ecological Endpoint Heterogeneity in Stated Preference Welfare Analysis
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 307
OP 332
DO 10.3368/le.95.3.307
VO 95
IS 3
A1 Jensen, Anne Kejser
A1 Johnston, Robert J.
A1 Olsen, Søren B.
YR 2019
UL http://le.uwpress.org/content/95/3/307.abstract
AB Obtaining valid stated preference welfare estimates for changes in biophysical systems requires identification of the ecological endpoints valued by respondents. Challenges for scenario design can occur if endpoints differ across respondents, because it may be infeasible to provide scenario information on all possible endpoints. We explore an approach to choice experiments that tailors attributes to empirically identified population groups. Results suggest that different endpoints are relevant to different groups, and that one-size-fits-all scenarios common in the literature may not enable valid welfare estimation for all groups. These findings suggest that endpoint heterogeneity should be considered when designing valuation studies. (JEL Q51)