Ecosystems, contingent valuation and ethics: the case of wetland re-creation

This paper addresses a current issue in environmental valuation, namely, the extent to which environmental preferences depart from the usual economic paradigm to incorporate some lexicographic elements. After a theoretical discussion the paper reviews attempts to explore this question empirically by supplementing contingent valuation analyses with an exploration of the motives behind willingness-to-pay responses, including zero bids and refusals to answer. This is followed by the presentation of new evidence investigating respondents willingness to pay for the creation of a wetland taken from 713 personal interviews of the British public.