Valuing climate change mitigation: A choice experiment on a coastal and marine ecosystem

This paper adds to a limited literature eliciting willingness to pay (WTP) for mitigation measures against natural hazards caused by climate change, on coastal and marine environments. Our case study is Santander, a coastal region in Northern Spain. The case-study specific natural hazards concern (a) sea-level rise, high tides and extreme wave events that lead to floods and beach erosion, (b) rise in sea temperature that leads to invasive jellyfish blooms and changes in native biodiversity. In particular, we employ a choice experiment (CE) to elicit the value locals place on improvements, through the implementation of appropriate mitigation measures, in biodiversity, recreational opportunities and on decreases in health risks associated with jellyfish blooms. Results suggest that people value positively benefits in terms of increased biodiversity and recreation opportunities, as well as health risk reductions, and point to interesting policy implications.