The role of choice experiments in natural capital accounting approaches: fast track versus simulated exchange value in the Deben Estuary saltmarshes

Grilli, Gaetano ORCID: https://orcid.org/0000-0003-1376-167X, Ferrini, Silvia, Luisetti, Tiziana and Kerry Turner, R. (2022) The role of choice experiments in natural capital accounting approaches: fast track versus simulated exchange value in the Deben Estuary saltmarshes. Journal of Environmental Planning and Management, 65 (7). pp. 1281-1300. ISSN 0964-0568

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Abstract

Natural capital accounting requires exchange rather than welfare values, but lack of data and standards have encouraged practitioners to use different approaches (e.g. simple lookup table vs spatial modeling approaches). In this paper, we demonstrate how choice modeling data can provide simulated exchange values which are more robust than simple (fast track) valuation approaches for natural capital accounting. A survey of East of England residents collected the preferences for saltmarsh management and simulated exchange values, coherently linked with the ecosystem conditions. This approach is more informative for environmental local planning purposes. We claim that expanding the set of tools available for natural capital accounting can enhance management of ecosystem services and policy decision making.

Item Type:	Article
Additional Information:	Issue 7: Discrete choice modelling in environmental and energy decision-making
Faculty \ School:	Faculty of Science > School of Environmental Sciences
UEA Research Groups:	Faculty of Science > Research Centres > Centre for Social and Economic Research on the Global Environment (CSERGE) Faculty of Science > Research Groups > Environmental Social Sciences Faculty of Science > Research Groups > Collaborative Centre for Sustainable Use of the Seas Faculty of Social Sciences > Research Groups > Finance Group
Related URLs:	https://www.tandfonline.com/doi/full/10....
Depositing User:	LivePure Connector
Date Deposited:	05 Oct 2021 01:20
Last Modified:	14 Dec 2024 01:32
URI:	https://ueaeprints.uea.ac.uk/id/eprint/81534
DOI:	10.1080/09640568.2021.1957794

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