Valuation of Environmental Resources: The Case of the Brown Bear in the North of Spain

This work concerns the contingent valuation of endangered species. Specifically, it is devoted to quantify and model the value of the brown bear and its habitat in a society in the north of Spain. A single-bound dichotomous choice format for the valuation problem has been chosen. The main models to deal with this format will be recalled. In order to estimate the models, a multistage random sampling method has been developed, namely, two stratified random samplings and a final random routes sampling were carried out. The experiment was designed by taking into account the results of a pilot survey with open format questions. In particular, the total sample size has been determined by estimating the distribution of the errors by bootstrap, and the bid prices were fixed according to the pilot information. The results indicate that the target society gives more value to the brown bear than the one considered in the law in force.