Dataset Information

Economic valuation of wildlife conservation.

ABSTRACT: This paper reviews concepts and methods for the economic valuation of nature in the context of wildlife conservation and questions them in light of alternative approaches based on deliberation. Economic valuations have been used to set priorities, consider opportunity costs, assess co-benefits of conservation, support the case for conservation in public awareness and advocacy, and drive novel schemes to change incentives. We discuss the foundational principles of mainstream economic valuation in terms of its assumptions about values, markets, and human behaviour; propose a list of valuation studies in relation to wildlife protection; and explain the methods used. We then review critiques of these approaches focusing on the narrow way in which economics conceives of values, and institutional, power, and equity concerns. Finally, we complement conventional approaches commonly used for wildlife valuation with two forms of deliberative valuation: deliberated preferences and deliberative democratic monetary valuation. These are discussed in terms of their potential to address the drawbacks of mainstream economics and to realise the potential of valuation in bridging conservation of nature for its own sake and its important contributions to human well-being.

Supplementary information

The online version contains supplementary material available at 10.1007/s10344-023-01658-2.

SUBMITTER: Martino S

PROVIDER: S-EPMC9999082 | biostudies-literature | 2023

REPOSITORIES: biostudies-literature

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Economic valuation of wildlife conservation.

Martino Simone S Kenter Jasper O JO

European journal of wildlife research 20230310 2

This paper reviews concepts and methods for the economic valuation of nature in the context of wildlife conservation and questions them in light of alternative approaches based on deliberation. Economic valuations have been used to set priorities, consider opportunity costs, assess co-benefits of conservation, support the case for conservation in public awareness and advocacy, and drive novel schemes to change incentives. We discuss the foundational principles of mainstream economic valuation in ...[more]

PMID: 36919039

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Project description:BackgroundA greater emphasis on providing high-value orthopaedic interventions has resulted in increased health economic reporting. The contingent-valuation method (CVM) is used to determine consumer valuation of the benefits provided by healthcare interventions. CVM is an important value-based health economic tool that is underutilized in orthopaedic surgery.Questions/purposesThe purpose of this study was to (1) identify previously published CVM studies in the orthopaedic literature, (2) assess the methodologies used for CVM research, and (3) understand how CVM has been used in the orthopaedic cost-benefit analysis framework.MethodsA systematic review of the literature using the MEDLINE database was performed to compile CVM studies. Search terms incorporated the phrase willingness to pay (WTP) or willingness to accept (WTA) in combination with orthopaedic clinical key terms. Study methodology was appraised using previously defined empirical and conceptual criteria for CVM studies.ResultsOf the 160 studies retrieved, 22 (13.8%) met our inclusion criteria. The economics of joint arthroplasty (n = 6, 27.3%) and non-operative osteoarthritis care (n = 4, 18.2%) were the most common topics. Most studies used CVM for pricing and/or demand forecasting (n = 16, 72.7%); very few studies used CVM for program evaluation (n = 6). WTP was used in all included studies, and one study used both WTP and WTA. Otherwise, there was little consistency among included studies in terms of CVM methodology. Open-ended questioning was used by only ten studies (45.5%), a significant number of studies did not perform a sensitivity analysis (n = 9, 40.9%), and none of the studies accounted for the risk preference of subjects. Only two of the included studies applied CVM within a cost-benefit analysis framework.ConclusionCVM is not commonly reported in orthopaedic surgery and is seldom used in the context of cost-benefit analysis. There is wide variability in the methods used to perform CVM. We propose that CVM is an appropriate and underappreciated method for understanding the value of orthopaedic interventions. Increased attention should be paid to consumer valuations for orthopaedic interventions.

Dataset Information

Economic valuation of wildlife conservation.

Supplementary information

Publications

Economic valuation of wildlife conservation.

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