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

Abstract

This study estimates economic values of changes in variegated ecological, social and economic attributes of dominant environmental resource (viz., Dal Lake), proffers to its key stakeholders through choice experiment design selecting relevant attributes for better management. In addition to the conditional logit model, the random logit model and the random logit model with interactions are calculated to account for the heterogeneity of the public prospects for the different purposes of the wetland.Willingness to pay for the selected attributes like preservation of wetland biodiversity turned out to be ₹18.47