Estimation of forest values using choice modeling: An application to Spanish forests

This paper presents a Choice Modeling application of forest goods and services valuation for an afforestation program in the Northeast of Spain. The results from a random parameter logit model reveal that, on average, individuals would annually pay an average of 11.79 euros for the forests to sequester 68,000 tones of CO2, 0.12 euros for delaying the loss of land productivity for ten years, and 6.33 euros from picnic users for being allowed to picnic in the new forests. On the other hand, individuals would experience a loss in welfare equivalent to − 9.67 euros if four-wheel driving is allowed in the new forests. Finally, being allowed to pick mushrooms in the new forests is valued at an average of 12.82 euros by those who live in rural areas.