Journal of
Oceanography and Marine Science

  • Abbreviation: J. Oceanogr. Mar. Sci.
  • Language: English
  • ISSN: 2141-2294
  • DOI: 10.5897/JOMS
  • Start Year: 2010
  • Published Articles: 60

Full Length Research Paper

Valuing environmental impacts of coastal development projects: A choice experiment application in Spain

David Hoyos
  • David Hoyos
  • Department of Applied Economics III (Econometrics and Statistics), University of the Basque Country, E48015 Bilbao, Spain.
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Pere Riera
  • Pere Riera
  • Institute of Environmental Science and Technology, Autonomous University of Barcelona, Campus UAB, E08193 Bellaterra, Spain.
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Javier Fernández-Macho
  • Javier Fernández-Macho
  • Department of Applied Economics III (Econometrics and Statistics), Institute for Public Economics, University of the Basque Country E48015 Bilbao, Spain.
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Carmen Gallastegui
  • Carmen Gallastegui
  • Department of Foundations of Economic Analysis I, Institute for Public Economics, University of the Basque Country, E48015 Bilbao, Spain.
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Dolores Garcia
  • Dolores Garcia
  • Departament d'Economia Aplicada, Universitat de les Illes Balears, E-07122 Palma de Mallorca, Spain.
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  •  Accepted: 22 December 2011
  •  Published: 29 February 2012

Abstract

This paper presents the results of an empirical application aimed at estimating the economic value of the potential environmental impacts to mount Jaizkibel (Spain) resulting from the construction of a new seaport over its hillside. A choice experiment technique is applied for anex-ante natural resource damage assessment in monetary terms. The results revealed that, depending on the extent of the environmental damage, the social welfare loss would be between 172 and 535 million Euros per annum.

 

Key words: Choice modelling, environmental valuation, social welfare, coastal management