Valuation of species and nature conservation in Asia and Oceania: a meta-analysis

We conduct a meta-analysis (MA) of around 100 studies valuing species and nature conservation in Asia and Oceania, using both revealed and stated preferences methods. Dividing our dataset into two levels of heterogeneity in terms of good characteristics (species vs. nature conservation more generally) and valuation methods, we show that the degree of regularity and conformity with theory and empirical expectations is higher for the more homogenous dataset of contingent valuation of species. For example, we find that willingness to pay (WTP) for preservation of mammals tends to be higher than other species and that WTP for species preservation increases with income (elasticity below one). For the full dataset we find that marine habitats are valued significantly higher than other habitat types in the region. Despite some encouraging results, more research is required to answer the question of how homogenous is homogenous enough in MA, especially when moving towards using MA for benefit transfer and policy use.