Valuing biodiversity attributes: a choice experiment design

This study seeks to estimate household's willingness to pay for biodiversity conservation in Dachigam National Park, which houses the last viable population of Asiatic Black Bear and the Hangul (which is the only surviving sub-species of red deer in the world). A survey based on choice experiment method was carried out at Dachigam National Park, an area that is threatened by several anthropogenic pressures. A set of attributes, such as endangered species, national park area and research and education opportunities the park holds, have been selected to substantiate the analysis. In order to estimate willingness to pay (WTP), a monetary variable involving an increase in water rates was also incorporated. Willingness to pay for the selected attributes per household ranges from Rs. 109.48 to Rs. 138.48 for enhancing population of endangered species, Rs. 48.54 to Rs. 82.36 for improvement in park area and Rs. 67.21 to Rs. 101.35 for increasing research and education opportunities the park holds. Findings that the study present can be used as an indicator of economic importance of biological resources for their better management and conservation that can help in ensuring sustainable utilization of these natural resources.