Twenty thousand sterling under the sea: Estimating the value of protecting deep-sea biodiversity

Twenty thousand sterling under the sea: Estimating the value of protecting deep-sea biodiversity

Primary Country: Scotland
Ecosystem: deep sea
Sample Value Estimates:
(a) WTP for "best" option was US$107 - CL results; and US$118 - ML results; (b) WTP was US$53-58 for MED; (c) WTP was US$53-58 for SP1600 which was US$18 higher than for WTP SP1300 on both models. CL is the Conditional Logit results adn ML is the Mixed Logit results. The "best" option had the highest species protection plus high potential for new medicinal products. MED is medicinal products and SP1600 is the highest level of species protection while SP1300 is intermediate species protection.
Methodology: Discrete Choice Experiment
Region: Europe

Publication information

Jobstvogt, N. N. Hanley S. Hynes J. Kenter U. Witte “Twenty thousand sterling under the sea: Estimating the value of protecting deep-sea biodiversity” Ecological Economics 97: 10–19, 2014

Addtional Notes

 

The considerable WTP expressed by participants for deep sea protection suggests that lack of knowledge rather than the lack of interest explains the near absence of wider societal values associated 

with deep-sea protection found by Potts et al. 2011. Thus, the lack of ocean literacy undermines the value of marine biodiversity and it is therefore crucial to increase public understanding for ocean ES if their value is to be recognised and accurately accounted for.

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