Browsing by Author "Villar, Susana"

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    Testing the embedding effect in the valuation of lagoon recovery
    (2010) Donoso, Guillermo; Cancino, Jose; Villar, Susana
    G. Donoso H., J. Cancino, and S. Villar. 2010. Testing embedding the effect in the valuation of lagoon recovery. Cien. Inv. Agr. 37(1): 103-111. The contingent valuation method was employed to assess the benefits of recovering the Laguna Grande de San Pedro dc La Paz in Chile's Bio-Bio region and to analyze the possible existence of an embedding effect. Our results indicate that there is not a perfect part-whole valuation effect and that there is an imperfect substitution relationship between the two analyzed projects. In addition, when assessing the joint construction project of a main sewer and a recreation park on the north hillside of the lagoon, we determined that households were willing to pay an average monthly amount of $6,114 for the associated benefit of the environmental improvement. This amount would contribute $ 358,977,396 per month to the project and a total value of $4,307,728,752. Additionally, the separate valuation of the two projects resulted in an amount of $ 3,290,635,524 for the main sewer and $ 2,484,518,138 for the recreation park. The absence of part-whole valuation effect may be explained by the precautions adopted in the survey's design and application, based on the review and analysis of prior studies.