The WTP for Property Rights for the Giant Panda: Can a Charismatic Species be an Instrument for Conservation of Natural Habitat?

The paper presents the results from a stated preference study to address issues concerning the potential for using flag-ship species, such as the Giant Panda, to purchase the property rights for the conservation of natural habitat. The study finds, first, that there is clear WTP for acquiring the property rights for panda habitat. The nature of this demand is found both convincing and logically coherent in that it is an increasing function of land (at a diminishing rate). Secondly, the study decomposed the elicited values into genetic stock, animal welfare and implicit biodiversity values. The results show that the latter type of value consist of almost half of total value implying that the Panda is in fact a potential instrument for greater biodiversity conservation. Thirdly, the study shows that these implicit biodiversity values are dependent on the preservation of the flagship species itself, implying that the panda is not only a potential instrument for habitat conservation, but a necessary one. Finally, the extent to which the flagship approach can be capable of contributing to wider biodiversity conservation is discussed. Key-Words: flag-ship species, existence value, contingent valuation, Giant Panda. 1 The authors would like to acknowledge the financial assistance from the China Council for International Co-operation on Environment & Development (CCICED) and from European Commission’s Framework V Programme. Corresponding author: Andreas Kontoleon ([email protected])