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Abstract: Good practice in experimental design is essential for choice experiments used in nonmarket valuation. We review the practice of experimental design for choice experiments in environmental economics and we compare it with advances in experimental design. We then evaluate the statistical efficiency of four different designs by means of Monte Carlo experiments. Correct and incorrect specifications are investigated with gradually more precise information on the true parameter values. The data generating process (DGP) is based on estimates from data of a real study. Results indicate that D-efficient designs are promising, especially when based on Bayesian algorithms with informative prior. However, if good quality a priori information is lacking, and if there is strong uncertainty about the real DGP—conditions which are quite common in environmental valuation—then practitioners might be better off with shifted designs built from conventional fractional factorial designs for linear models. [Copyright &y& Elsevier]

Recreational sea angling is a popular activity generating significant socio-economic benefits but can impact on fish stocks. The motivations of recreational sea anglers go beyond catch, with a diverse range of motivations relating to physical health and well-being. Heterogenous motives and the popularity of catch and release practices mean that applying commercial fisheries management goals (maximum sustainable yield) to recreational fisheries could result in reduced participation, increased non-compliance, and a subsequent loss of both market and non-market values generated through recreational angling activities. Hence, assessment of sea angler preferences for management is important for the development of appropriate management strategies. In this study, a choice experiment was conducted to assess sea anglers' preferences for changes in UK sea angling management measures. Stated preferences for catching, keeping, and releasing fish due to bag limits and minimum-landing sizes were assessed. Willingness to pay (WTP) estimates for marginal changes of catching the first sea bass on a trip were between £11 and £31 depending on whether the fish could be kept or released and between £11 and £28 for cod, respectively. WTP was much higher for fish caught and kept than caught and released suggesting that consumption of fish was an important motivation. Minimum size was the most considered choice attribute for respondents, while cost was less commonly considered. The implications of the findings are discussed in the context of future management of recreational fisheries. • UK anglers exhibit decreasing marginal utility for the amount of catch. • Keeping the catch was more valuable than releasing it. • Minimum size should be a key consideration for policy makers. [ABSTRACT FROM AUTHOR]

Abstract: The opportunity Value of Travel Time (VTT) is one of the most important elements of the total cost of recreation day-trips and arguably the most difficult to estimate. Most studies build upon the theoretical framework proposed by Becker (1965) by using a combination of revealed and stated preference data to estimate a value of time which is uniform in all activities and under all circumstances. This restriction is relaxed by DeSerpa's (1971) model which allows the value of saving time to be activity-specific. We present the first analysis which uses actual driving choices between open access and toll roads to estimate a VTT specific for recreation trips, thereby providing a value which conforms to both Becker's and DeSerpa's theoretical models. Using these findings we conduct a Monte Carlo simulation to identify generalizable results for subsequent valuation studies. Our results indicate that 3/4 of the wage rate provides a reasonable approximation of the average VTT for recreation trips, while the commonly implemented assumption of 1/3 of the wage rate generates downward biased results. [Copyright &y& Elsevier]

An increasing number of countries and regions consider the bioeconomy transition a strategic policy priority. When approached through the lens of a circular economy perspective, investments in bioeconomy have the potential to enhance resource utilisation efficiency, preserve biodiversity and ecosystems, and foster sustainable development with low emissions. At the same time, if requirements and contextual factors of bioeconomy strategies are not formally analysed, bioeconomic investments might lead to unintended negative consequences. This paper proposes a decision support procedure to design, assess, prioritise, and monitor bioeconomy investments and policies. The flexibility and scalability of our decision support procedure is tested in Colombia to foster a regional and local transition to bioeconomy initiatives that consider the local capital assets and the stakeholders' views. The heterogeneous character of the Colombian environment, economy, society and culture represents an ideal condition to test the strength of the decision support procedure to promote bioeconomy in low and middle-income countries. Our empirical results highlight the benefit of adopting a formal assessment framework that includes strategic national indicators, regional features and stakeholders' views. In terms of the Colombian regional bioeconomy ambitions, we highlight the need for expanding knowledge hubs and participatory stakeholder networks and buttressing appropriate financial mechanisms. • Bioeconomy transition needs to be framed in an extended circular economy framework. • Bioeconomy strategies need to consider local context and stakeholders' engagement. • Scalable and replicable decision support procedures should guide bioeconomy implementations. • Balance sheet approach inform all stages of bioeconomy policies and projects. • Application of the balance sheet approach in Colombia highlights diverse local priorities. [ABSTRACT FROM AUTHOR]

We present an integrated model of the direct consequences of climate change on land use, and the indirect effects of induced land use change upon the natural environment. The model predicts climate-driven shifts in the profitability of alternative uses of agricultural land. Both the direct impact of climate change and the induced shift in land use patterns will cause secondary effects on the water environment, for which agriculture is the major source of diffuse pollution. We model the impact of changes in such pollution on riverine ecosystems showing that these will be spatially heterogeneous. Moreover, we consider further knock-on effects upon the recreational benefits derived from water environments, which we assess using revealed preference methods. This analysis permits a multi-layered examination of the economic consequences of climate change, assessing the sequence of impacts from climate change through farm gross margins, land use, water quality and recreation, both at the individual and catchment scale. [ABSTRACT FROM AUTHOR]

We address the problem of estimating the use and nonuse value derived from a landscape-wide programme of environmental change. Working in the random utility framework, we develop a structural model that describes both demand for recreational trips to the landscape's quality-differentiated natural areas and preferences over different landscape-wide patterns of environmental quality elicited in a choice experiment. The structural coherence of the model ensures that the parameters of the preference function can be simultaneously estimated from the combination of revealed and stated preference data. We explore the properties of the model in a Monte Carlo experiment and then apply it to a study of preferences for changes in the ecological quality of rivers in northern England. This implementation reveals plausible estimates of the use and nonuse parameters of the model and provides insights into the distance decay in those two different forms of value. • Preferences for landscape-wide environmental change are elicited using a map-based visual spatial choice experiment (VSCE). • A structural random utility model is developed that describes both demand for recreation trips and choices in a VSCE • The structural parameters are estimated from an econometric model that combines revealed and stated preference data • Use and non-use values for the ecological quality of rivers are identified in a case study application of the method [ABSTRACT FROM AUTHOR]