The worth of a chough: Contingent valuation of P Pyrrhocorax in Cornwall and the connections to Cornish identity

The aim of this paper is to determine how people value species for conservation and apply it to policymaking. This paper is the first attempt to value one of the UK´s rarest birds specifically; the redbilled chough (Pyrrhocorax pyrrhocorax). Classical economic theory struggles to assign value to resources that are not a product of markets, such as endangered wildlife. The contingent valuation method will be used to gauge how P pyrrhocorax is valued in Cornwall via a questionnaire method, eliciting responses to how much individuals are willing to pay to preserve this rare species. The methodology requires diligent questionnaire design, implementation and regression analysis. It was found that the average willingness to pay was £23.60 to mitigate habitat damage to this endangered and iconic bird. Economic valuation has a large role to play in determining policy for species conservation. However, there are other more complex and non-orthodox forms of valuation occurring such as aesthetic, intrinsic bequest and relational values that cannot be accounted for by direct valuation.