David HoyosResearcher from the ENVIRONMENTAL ECONOMICS UNIT of the UNIVERSITY OF THE BASQUE COUNTRY (UPV-EHU)In a travel cost exercise, reported past visits to mount Jaizkibel, a natural area located in the Basque Country, are compared for convergence validity to stated intended future trips under the assumption that the natural resource’s conditions will remain the same. In line with the results obtained by other studies, the empirical evidence of this application suggests that revealed preference (RP) and stated preference (SP) data do not produce consistent data, i.e. do not achieve convergent validity. The paper attempts to update the convergence validity literature in continuous-choice studies by taking advantage of the recent developments in parametric estimation models for recreation data. Difference in welfare estimates is tested using a convolution method.

David HoyosResearcher from the ENVIRONMENTAL ECONOMICS UNIT of the UNIVERSITY OF THE BASQUE COUNTRY (UPV-EHU). AbstractRecent studies have looked at the willingness to pay (WTP) of the general population for climate change mitigation benefits.This paper contributes to this literature by investigating, in addition to global benefits, the ancillary benefits of climate change mitigation, by considering local and personal benefits arising from climate change policies.The Contingent Valuation Method is used to elicit the WTP for ancillary and global benefits of climate mitigation policies in the Basque Country, Spain. According to our results, WTP estimates are 40% higher when ancillary benefits are considered.