Exploring Dual Discount Rates for Ecosystem Services: Evidence from a Marine Protected Area Network
This paper presents a joint estimation of willingness to pay for conservation activities aimed to preserve the flow of ecosystem services provided by a marine protected area network and respondents´ personal discount rate using a contingent valuation survey. It contributes to the literature on identifying people´s discount rates moving beyond the use of the exponential schemes, to include a hyperbolic discount rate through variations in the timing and duration of the provision of public goods.