TY - JOUR
T1 - Valuing access to biological collections with contingent valuation and cost-benefit analysis
AU - Mwebaze, Paul
AU - Bennett, Jeff
PY - 2015
Y1 - 2015
N2 - Biological collections may be underutilised because of transaction costs incurred in
their use. One way to reduce transaction costs and foster greater utilisation of
biological collections that could benefit society is through the creation of a virtual
central database of biological collections, available online. The objective of this paper
is to estimate the benefits of this policy change using a dichotomous choice contingent
valuation survey of the primary users of biological collections. Marginal willingness
to pay (WTP) for access to a new central database linking collections around Australia
was investigated through an annual user fee payment vehicle. The mean WTP of
direct users of the proposed program was Australian dollar (A$) 149 per annum (95%
confidence interval of $102 $348). We conducted a cost benefit analysis of the
proposal, showing that the aggregate benefits are likely to outweigh the total costs of
setting up and maintaining the database in the longer term. These findings are useful
for resource allocation decisions regarding biological collections.
AB - Biological collections may be underutilised because of transaction costs incurred in
their use. One way to reduce transaction costs and foster greater utilisation of
biological collections that could benefit society is through the creation of a virtual
central database of biological collections, available online. The objective of this paper
is to estimate the benefits of this policy change using a dichotomous choice contingent
valuation survey of the primary users of biological collections. Marginal willingness
to pay (WTP) for access to a new central database linking collections around Australia
was investigated through an annual user fee payment vehicle. The mean WTP of
direct users of the proposed program was Australian dollar (A$) 149 per annum (95%
confidence interval of $102 $348). We conducted a cost benefit analysis of the
proposal, showing that the aggregate benefits are likely to outweigh the total costs of
setting up and maintaining the database in the longer term. These findings are useful
for resource allocation decisions regarding biological collections.
U2 - 10.1080/21606544.2014.985258
DO - 10.1080/21606544.2014.985258
M3 - Article
VL - 4
SP - 238
EP - 258
JO - Journal of Environmental Economics and Policy
JF - Journal of Environmental Economics and Policy
IS - 3
ER -