Economic Valuation of Beach Quality Improvements: Comparing Incremental Attribute Values Estimated from Two Stated Preference Valuation Methods

Abstract

Maintaining beach water quality and cleanliness of shorelines is expensive. Demonstrating that water quality regulations and shoreline maintenance are economical is aided by defensible non-market values. Defensible values are robust to the chosen valuation method. This article compares values from the contingent valuation method (CVM) and choice experiments (CE). Using a survey of beach visitors, our results show that the increased economic value per visitor day for increasing beach water clarity is estimated by CVM at $54 ($39–73 CI), while CE estimated $51 ($34–70 CI). Eliminating trash on beaches is estimated using CVM at $103 ($83–131 CI) while CE estimated $98 ($77–126 CI) per visitor day. A comparison of the two methods’ benefit estimates shows that CE and CVM 90% confidence intervals overlap, indicating statistically equivalent values. This indicates defensible values of the two valuation methods. Our analysis suggests managers can have some confidence in non-market valuation.

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