Urban green provides several important ecosystem services which provide significant value to society. While some of these services are traded on markets and thus relatively easy to measure and value, other services are  (seemingly) provided by nature for free. From an economic perspective, it is important to capture their values to provide policy guidance. For example, recreational values of urban parks or amenity values of street trees cannot be measured with traditional economic approaches, which include observed market transactions.  

In the seminar you will gain knowledge about the method of choice experiments for the valuation of environmental goods which are not traded on markets. You will be provided with an introduction in choice experiments and will learn how to handle and analyze choice experiment data in the statistical programming language R. After this introductory part, groups and projects will be assigned.

On the first day, you will learn about the economic theory behind choice experiments and the econometric methods to analyze choice data with a focus on urban green. On the second day, we will work with RStudio and analyze choice data. The data come from a large survey on citizens' preferences for different forms of urban green.  Finally, you will be supplied with a different datasets which you will analyze yourself (homework). The third day (Jan 6) will be dedicated to more advanced choice models. On the fourth day (Jan 7), each student has the opportunity to present their current state of analysis and ask questions about everything related to the choice experiments and your homework. You will submit your homework together with the exam.

Semester: ST 2023