Choice modeling: Assessing the non-market environmental values of the biodiversity conservation of swamp forest in Vietnam

Abstract

The study investigated the economic value of biodiversity attributes that could provide policy-makers reliable information to estimate welfare losses due to biodiversity reductions and analyze the trade-off between biodiversity and economics. In order to obtain the non-market benefits of biodiversity conservation, an indirect utility function and willingness to pay for biodiversity attributes were applied using the approach of choice modeling with the analysis of conditional logit model. The study found that Mekong Delta residents accepted their willingness to pay of VND 913 monthly for a one percent increase in healthy vegetation, VND 360 for an additional mammal species and VND 2,440 to avoid the welfare losses of 100 local farmers.