Enhancing the Content Validity of Stated Preference Valuation: The Structure and Function of Ecological Indicators

Stated preference surveys often provide ambiguous descriptions of ecological commodities, yielding welfare estimates that have unclear interpretations and cannot be linked to measurable outcomes. This paper proposes guidelines to promote ecological content validity in survey scenarios and defensible use of ecological information for welfare analysis. These guidelines are illustrated through an application to migratory fish restoration. Content validity is evaluated vis-á-vis norms for communication of ecological changes in the ecological literature. Findings suggest that less structured treatment of ecological commodities may lead to an omission of information that is relevant to respondents and essential for valid welfare estimation. (JEL Q51, Q57)