You are here:
Valuation Challenges of Riparian Restoration in a Dynamic Decision Support Context: What Could Possibly Go Wrong?
Citation:
WEBER, M. Valuation Challenges of Riparian Restoration in a Dynamic Decision Support Context: What Could Possibly Go Wrong? Presented at 5th bi-annual conference of the United States Society for Ecological Economics (USSEE), Washington, DC, May 31 - June 03, 2009.
Impact/Purpose:
To inform the public
Description:
A dynamic simulation model is constructed to compare benefit-cost ratios of riparian restoration options for the Middle Rio Grande riparian corridor in Albuquerque, New Mexico, USA. The model is built from original choice experiment valuation data, regional benefit-transfer studies, and stakeholder input. The model includes three control variable modules: forest management, river restoration, and recreation infrastructure improvement. Investment influences these modules, which in turn affect ecosystem service flows for the region. Despite tailored, extensive research, optimal management strategies remain clouded by several sources of uncertainty. Characterization of restoration demand is incomplete over the scope of management options, particularly for degrading conditions. Furthermore, judgments regarding the non-native plant infestation rate, the forest fire frequency, the discount rate, potential non-response bias, and the functional form of environmental preferences all greatly affect optimal management. Although the benefit-cost ratio is positive for all optimizations scenarios tested, the ratio varies considerably. Despite these difficulties, and in light of them, patterns in model results allow some insights. The model’s strength lies not in certainty, but ra ther in supplying an adaptive management platform through which data limitations may be transparently explored.
