Contingent valuation, conjoint experiment elicitation and behavioural economic valuation of Koothapar big tank wetland

In recent decades, wetlands have deteriorated due to biotic and abiotic threats. Hence, ecosystem service valuation is sine quo non for its conservation. This was estimated through novel environmental impact assessment methodologies of contingent valuation, conjoint experiment elicitation and behavioural economic valuation of Koothapar big tank wetland, Tamil Nadu, in the Indian context. The estimated economic value of non-use value through contingent valuation was Rs 81.95 lakhs per annum. The estimated total economic value for biodiversity conservation through conjoint experiment was Rs 85.50 lakhs per annum. The inclusion of behavioural economics in the study showed that its willingness to pay value was higher than the stated preference approach by 30.52%.