ECO 377 Lecture Notes - Lecture 12: Contingent Valuation, Starbucks, Diesel Fuel
27 Dec 2019
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Taxes, etc: makes realistic, timing of payment, yearly or monthly payment . Survey states: biologists at the maine department of inland. Fish and wildlife have developed a recovery plant to ensure survival of peregrines in maine the plan involves restoring self- sustaining breeding populations: no intervention: Peregrine falcon in maine unlikely to survive if recovery efforts do not continue : method of payment & timing, one-time payment through increased state taxes, these make the situation real. Important: note limitations of their work: only surveyed maine resident, don"t survey vacationers or visitors, think about how they missed the value of people that visit. Contingent valuation-design elements- part 1: design elements of contingent valuation, familiarity bias, example: the university of maine is considering setting up a student-run gourmet coffee stand in the memorial union. American crocodile is rapidly being bought for development. Conservancy is considering buying land in an effort to save this species.
