Labor as a welfare measure in contingent valuation: the value of a forest restoration project

Monetary contributions might not be appropriate welfare measures in contingent valuation (CV) when household incomes are very low. In such cases, willingness to pay (WTP) is restricted by a household's ability to reduce its consumption of other goods to pay for the environmental good under valu...

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Autores principales:	Schiappacasse,Ignacio, Vásquez,Felipe, Nahuelhual,Laura, Echeverría,Cristian
Lenguaje:	English
Publicado:	Pontificia Universidad Católica de Chile. Facultad de Agronomía e Ingeniería Forestal 2013
Materias:	cost-benefit analysis contingent valuation ecosystem services labor payments
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-16202013000100006
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spelling	oai:scielo:S0718-162020130001000062014-09-08Labor as a welfare measure in contingent valuation: the value of a forest restoration projectSchiappacasse,IgnacioVásquez,FelipeNahuelhual,LauraEcheverría,Cristian cost-benefit analysis contingent valuation ecosystem services labor payments Monetary contributions might not be appropriate welfare measures in contingent valuation (CV) when household incomes are very low. In such cases, willingness to pay (WTP) is restricted by a household's ability to reduce its consumption of other goods to pay for the environmental good under valuation. Beneficiaries, however, may be willing to contribute their time to work on a project instead of paying money. In this context, we assess the benefits of ecosystem services restoration in a rural area of high conservation value in central Chile, using a CV study that includes two WTP questions, one for cash and another for labor payments. The results indicate that labor payments in the form of a number of working hours per week were highly accepted among people. In fact, in our sample, more people were willing to pay with labor time than with traditional cash payments. When we analyze the economic efficiency of the restoration project considering only cash payments, the net present value (NPV) is negative (-US$ 255,834), but when we consider the value of time payments, the NPV is US$629,980. The results indicate that this approach ought to be seriously considered in contingent valuation in similar social and economic contexts.info:eu-repo/semantics/openAccessPontificia Universidad Católica de Chile. Facultad de Agronomía e Ingeniería ForestalCiencia e investigación agraria v.40 n.1 20132013-04-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-16202013000100006en10.4067/S0718-16202013000100006
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	cost-benefit analysis contingent valuation ecosystem services labor payments
spellingShingle	cost-benefit analysis contingent valuation ecosystem services labor payments Schiappacasse,Ignacio Vásquez,Felipe Nahuelhual,Laura Echeverría,Cristian Labor as a welfare measure in contingent valuation: the value of a forest restoration project
description	Monetary contributions might not be appropriate welfare measures in contingent valuation (CV) when household incomes are very low. In such cases, willingness to pay (WTP) is restricted by a household's ability to reduce its consumption of other goods to pay for the environmental good under valuation. Beneficiaries, however, may be willing to contribute their time to work on a project instead of paying money. In this context, we assess the benefits of ecosystem services restoration in a rural area of high conservation value in central Chile, using a CV study that includes two WTP questions, one for cash and another for labor payments. The results indicate that labor payments in the form of a number of working hours per week were highly accepted among people. In fact, in our sample, more people were willing to pay with labor time than with traditional cash payments. When we analyze the economic efficiency of the restoration project considering only cash payments, the net present value (NPV) is negative (-US$ 255,834), but when we consider the value of time payments, the NPV is US$629,980. The results indicate that this approach ought to be seriously considered in contingent valuation in similar social and economic contexts.
author	Schiappacasse,Ignacio Vásquez,Felipe Nahuelhual,Laura Echeverría,Cristian
author_facet	Schiappacasse,Ignacio Vásquez,Felipe Nahuelhual,Laura Echeverría,Cristian
author_sort	Schiappacasse,Ignacio
title	Labor as a welfare measure in contingent valuation: the value of a forest restoration project
title_short	Labor as a welfare measure in contingent valuation: the value of a forest restoration project
title_full	Labor as a welfare measure in contingent valuation: the value of a forest restoration project
title_fullStr	Labor as a welfare measure in contingent valuation: the value of a forest restoration project
title_full_unstemmed	Labor as a welfare measure in contingent valuation: the value of a forest restoration project
title_sort	labor as a welfare measure in contingent valuation: the value of a forest restoration project
publisher	Pontificia Universidad Católica de Chile. Facultad de Agronomía e Ingeniería Forestal
publishDate	2013
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-16202013000100006
work_keys_str_mv	AT schiappacasseignacio laborasawelfaremeasureincontingentvaluationthevalueofaforestrestorationproject AT vasquezfelipe laborasawelfaremeasureincontingentvaluationthevalueofaforestrestorationproject AT nahuelhuallaura laborasawelfaremeasureincontingentvaluationthevalueofaforestrestorationproject AT echeverriacristian laborasawelfaremeasureincontingentvaluationthevalueofaforestrestorationproject
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Labor as a welfare measure in contingent valuation: the value of a forest restoration project

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