Time equals money? Valuing ecosystem-based adaptation in a developing country context

Research output: Contribution to JournalArticleAcademicpeer-review

Abstract

To guide investments in ecosystem-based adaptation (EbA) in developing countries, numerous stated preference valuation studies have been implemented to assess the value of ecosystem services. These studies increasingly use time payments as an alternative to money. There is limited knowledge, however, about how to convert time to money and how the type of payment affects willingness to pay (WTP). In this study, the results of choice experiments using time and money payments are compared in the context of EbA measures in Vietnam. Six, of which five individual-specific, conversion rates are applied. WTP estimates are found to be higher for time payments. Moreover, the type of payment vehicle as well as the conversion rate has substantial effect on mean WTP and WTP distributions. We discuss implications of these results for the conversion of time to money and the use of resulting WTP estimates in cost benefit analyses in developing countries.

Original languageEnglish
JournalEnvironment and Development Economics
DOIs
Publication statusAccepted/In press - 1 Jan 2020

Keywords

  • discrete choice experiments
  • ecosystem-based adaptation
  • environmental valuation
  • monetary payment vehicle
  • time payment vehicle
  • willingness-to-pay

Fingerprint Dive into the research topics of 'Time equals money? Valuing ecosystem-based adaptation in a developing country context'. Together they form a unique fingerprint.

  • Cite this