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INTEGRATING ECOSYSTEM AND BIODIVERSITY VALUES INTO POLICY ASSESSMENT
(c) Group valuation: A newer and rarer form of technique
that combines stated preference techniques
with elements of deliberative processes, to explore
value, such as value pluralism, incommensurability,
non-human values, or social justice.
Box 4.A1: An example of ‘stated preference’:
the Exxon Valdez oil spill (1989) – further details
This oil spill affected 200km of Alaskan coastline -
one of the largest spills in United states history
and one of the largest ecological disasters.
The subsequent court case included a claim for
both use and non-use values with the values being
claimed in compensation calculated through a
contingent valuation study. The survey was developed
over 18 months, including field testing, work
with focus groups and pilot surveys and then
around 1600 people were interviewed. The
statistical analysis of these responses gave a
$2.8 billion lower bound willingness to pay to avoid
the damages. Eventually, Exxon settled its lawsuit
with the Us Government for $1 billion and agreed
to spend around $2 billion on clean up, and later
settled a class action lawsuit for additional
amounts. These costs were consistent with the
estimates from the valuation study.
What makes this now rather old example stand
out, is the debate it sparked on the reliability of
contingent valuation. The conclusion, of a panel of
eminent and neutral economists, was that the
method is sound and delivers useful results when
well implemented.
Table 4.3 below sets out in more detail the methods
used, and their applicability to different ecosystem
services.
TEEB for NATIoNAL AND INTErNATIoNAL PoLIcy MAKErs - chAPTEr 4: PAGE 33