Measuring values of wetlands in Taiwan

This study was conducted from ecological and economic points of view in the setting of a nature reserve of wetlands in Taiwan. The ecological data (including area, habitat and ornithological diversity, and ornithological rarity, population size, and representativeness) of 28 wetlands in Taiwan were collected, and “factor analysis” was used to regroup those attributes. The four common factors are rarity, area, representativeness, and diversity, with 36%, 36%, 15%, and 13% relative importance, respectively. A mix index is defined as the weighted average of these four factors. The ecological evaluation method and the results were introduced to the dichotomous choice with follow-up (DCF) contingent valuation questionnaire. Cameron’s expenditure function model and maximum likelihood estimation for DCF data provided by Alberini et al. were used to estimate willingness to pay values for the residents of Taiwan. The results indicate that some ecological factors are statistically significant, which shows the importance of combining ecological valuation and economic evaluation. The estimated median annual willingness to pay is NT$1069.52 with the exchange rate of US$1 ≒ NT$34.5. Copyright Springer Japan 1999