Value after the volcano: economic valuation of Montserrat’s Centre Hills (original) (raw)

2014, Valuing Ecosystem Services

AI-generated Abstract

This study assesses the economic value of Montserrat's Centre Hills, which were severely impacted by volcanic activity in 1995. It employs a choice experiment to gauge residents' willingness to pay for conservation efforts, estimates the Total Economic Value (TEV) at approximately $1.4 million annually, and conducts a cost-benefit analysis of invasive species control. Results indicate that tourism, water services, and species conservation are key components of the TEV, while the proposed eradication program's financial feasibility remains uncertain due to unaccounted environmental benefits.