A MODEST PROPOSAL FOR THE EXTENSION OF NONMARKET VALUATION METHODS

Welfare economics must adapt to the growing consensus over the assignment of rights to animals. We extend nonmarket valuation techniques to the study and measurement of the preferences of Chinook salmon regarding their aquatic habitat and the value of their existence. We find that these techniques a...

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Bibliographic Details
Published in:Economic inquiry 2016-01, Vol.54 (1), p.719-724
Main Author: Keeler, Andrew G.
Format: Article
Language:English
Subjects:
Analysis
Animal behavior
California
Environmental ethics
Habitats
Salmon
Studies
United States
Valuation methods
Welfare economics
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Summary:Welfare economics must adapt to the growing consensus over the assignment of rights to animals. We extend nonmarket valuation techniques to the study and measurement of the preferences of Chinook salmon regarding their aquatic habitat and the value of their existence. We find that these techniques are as valid for fish as they are for humans. Our applied study indicates that opportunities exist for Pareto‐improving trades between salmon and California agricultural and hydropower interests. (JEL Q510)
ISSN:0095-2583
1465-7295
DOI:10.1111/ecin.12217