Untying a Lancastrian bundle: valuing ecosystems and ecosystem services for wetland mitigation |
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| Authors: | Hoehn John P Lupi Frank Kaplowitz Michael D |
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| Institution: | Department of Agricultural Economics, Agricultural Hall, Michigan State University, East Lansing, MI 48824, USA. |
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| Abstract: | A utility-theoretic model indicates that mitigation prices for wetland ecosystems depend on preferences and technical knowledge. Empirical analysis found gaps in respondents' knowledge about such ecosystems. Valuing wetland types requires dealing with respondents' possible misinformation, by developing tools for informing respondents or by combining service-based valuations with valid technical data. |
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