Economic Valuation for Cultural and Passive Ecosystem Services Using a Stated Preference (Contingent Valuation Method (CVM)) Case of the Elgeyo Watershed Ecosystem, Kenya

Abstract

Valuation of ecosystem services (ESs) can be typical as use values and passive use values. However, the prevailing conventional markets provide economic instruments such as price tags to ecosystem use values, but rarely on passive use values. This is limited since it does not provide comprehensive ecological values that will adequately support rational decision-making processes regarding ecological conservation. The study adopted the contingency valuation method (CVM) where three hundred and eighty households of communities living within the Elgeyo watershed were sampled. The findings recorded 97% of the population was willing to pay for the ESs quoted. Individual maximum WTP ranged between 1 USD and 57.1 USD (cultural), 1 USD and 95.2 USD (bequest), and 1 USD and 76.2 USD (biodiversity conservation). The overall mean maximum WTP was 7.4 ± 0.34 USD, 9.1 ± 0.49 USD, and 11.1 ± 0.68 USD for the cultural, bequest, and biodiversity, respectively. The multivariate regression (maximum WTP as a function of administrative location, education, income, sex, age, and livestock number) exhibited a significant difference regardless of multivariate criteria used, where Wilks’ lambda has F (75,203) = 4.03, p < 0.001 . The findings provide an economic value for nonuse values that can be incorporated in total economic valuation (TEV) studies locally as well as provide an impetus on payment of ecosystem services (PES) in Kenya.

A Contingent Valuation-Based Method to Valuate Ecosystem Services for a Proactive Planning and Management of Cork Oak Forests in Sardinia (Italy)

“…This selection has facilitated the authors in the comparison between their WTP annual mean (USD) and the one obtained for the Goceano's cork oak forests. Thus, Table 16 below validates the results: CVM can be considered the most methodologically sound approach to obtain the economic value of natural and cultural assets, as in the case of cork oak forests [80,107,108]. CVM through the estimation of the monetary value can support DMs in the design of suitable policies and actions for protecting, valorising, and managing cork oak forests, and more so in general, FOWLs, thus contributing to their sustainable forest management (SFM) [109].…”

Valuation and effective management of the Dal Lake's diverse ecosystem using choice experiment method

“…A diverse range of valuation methods has been applied to value wetland services (Brander et al, 2006). These include the contingent valuation method (Siew et al, 2015; Ndebele & Forgie, 2017; Vidal Gimenez & Ruiz Mas, 2020; Eregae et al, 2021; Yavari et al, 2021), travel cost method (Musamba et al, 2012; Ghermandi, 2018; Shah & Islam, 2021), both contingent valuation and travel cost methods (Vidal Gimenez & Ruiz Mas, 2020; Alora & Nandagiri, 2015), choice experiment method (Dias & Belcher, 2015; Tan et al, 2018; Getnet & Taw, 2021) and benefits transfer method (Zhou et al, 2020; Badamfirooz et al, 2021) among others. Again, many studies have estimated only one out of many possible wetland attributes, like wetland biodiversity, and others have estimated more than one or the total economic value of wetland ecosystems.…”

Estimating the Socio-Economic Values of Forest Ecosystem Services Using the Stated Preference Method in Dir Kohistan (Pakistan)

“…The disparities are attributable to the Kumrat Valley's inadequate infrastructure and lack of services. Economic Assessment for Cultural and Passive Ecosystem Services Using a Quoted Preference was studied in Kenya byEregae et al (2021). According to the data, 97 per cent of the population is prepared to pay for the ESs in the issue.…”