RESUMO
As in many developing countries, the eutrophication of lakes has become one of the most severe environmental problems in Brazil. We implemented a choice experiment to investigate local preferences for the restoration of five lakes in the city of Campos dos Goytacazes, Brazil. This study focuses on two attributes of the proposed environmental project: 1) the delay in reaching the targeted level of water quality and 2) the institution that would manage the lakes restoration project. Choice responses are analyzed using a mixed logit model to control for potential heterogeneity among respondents. Results show that the willingness to pay for lakes restoration decays with restoration time in a non-linear fashion. Findings also indicate that respondents would prefer an interinstitutional, non-governmental committee over the municipal government to manage the lakes restoration project.