ECONOMIC-BENEFITS OF RARE AND ENDANGERED SPECIES - SUMMARY AND METAANALYSIS

The economic value of rare, threatened and endangered species to citiz ens of the USA has been measured using the contingent valuation method for 18 different species. Annual willingness to pay (WTP) range from a low of $6 per household for fish such as the striped shiner to a hig h of $95 per household for the northern spotted owl and its old growth habitat. A regression analysis of WTP values shows that over half of the variation in WTP is explained by the change in the size of the pop ulation, whether the payment is one-time or annual, whether the respon dent is a visitor or non-user and whether the species is a marine mamm al or bird. This illustrates that the contingent valuation method can provide meaningful estimates of the anthropocentric benefits of preser ving rare and endangered species. Thus, economic techniques are availa ble to perform broad-based benefit-cost analyses of species preservati on. However, the Safe Minimum Standard approach is offered as an alter native for endangered species preservation decisions. The values repor ted in this paper are most useful to assess whether the costs are like ly to be disproportionate to the benefits. To date, for even the most expensive endangered species preservation effort (e.g., the northern s potted owl) the costs per household fall well below the benefits per h ousehold found in the literature.