Increasing the Validity of Valuing Biodiversity: Reducing Protest Responses by Deliberative Monetary Valuation

This paper focuses on increasing the validity of biodiversity valuation. A group deliberation technique (Deliberative Monetary Valuation) is supplemented by a contingent valuation (CV) survey. An exceptionally large number of focus groups provided basis for applying a relatively unproven methodology and comparing the results with CV. We present evidence that our interpretation of DMV tackles some of the limitations of CV: prevalence of lexicographic preference orderings and lack of a priori or well-formed preferences. Both of these may result in protest responses decreasing the validity of results. Our interpretation of DMV significantly reduced the ratio of protest responses by more than half (from 29% to 13%). We also suggest a rethinking of the general practice of DMV applications. Elicited plural monetary values (fair price, social fair price) indicate a relatively high social value of biodiversity improvements in Central-Mezőföld, Hungary.