Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US…

Paperback | October 15, 2001

EditorIan J. Bateman, Kenneth G. Willis

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Just as individuals have preferences regarding the various goods and services they purchase every day, so they also hold preferences regrding public goods such as hose provided by the naural environment. However, unlike provate goods, environmental goods often cannot be valued by directreference o any market price. Thsi amkes economic analysis of the costs and benefits of environmental change problematic. Over the past few decades a number of methods have developed to address this problem by attempting to value environmental preferences. Principal among hese has been thecontingent valuation (CV) method which uses surveys to ask individuals how much they would be willing to pay or willing to accept in compensation for gains and losses of environmental goods. The period from the mid-1980s to the present day has seen a m,assive expansion in use of the CV method. Fromits originalroots int eh USA, through Europe and the developed world, the method has now reached worldwide application with a substantial proportion of current studies being undertaken in developing countries where environmental services are often the dominating determinant of everyday livingstandards. The method has simultaneously moved from the realm of pure academic speculation into the sphere of instiutional decision analysis. However, the past decade also witness a developing critique of the CV method with a number of commentators questioning the underlying validity of its dervied valuations. This volume, therefore, reflects a time of heated debate, as wellas from commentators who see it as an interesting experimental tool regardless of the question of absolute validity of estimates. The book embraces the theoritical, methodologicl, empirical, and institutional aspects ofthe current debate. It covers US, European , and developing country applications, and the institutional frameworks within which CV studies are applied.

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Just as individuals have preferences regarding the various goods and services they purchase every day, so they also hold preferences regrding public goods such as hose provided by the naural environment. However, unlike provate goods, environmental goods often cannot be valued by directreference o any market price. Thsi amkes economic ...

Ian J. Bateman is Reader in Environmental Economics at the School of Environmental Sciences, University of East Anglia, and Senior Research Fellow at the Centre for Social and Economic Research on the Global Environment (CSERGE), University of East Anglia and University College London. Kenneth G. Willis is Professor of Environmental E...

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Format:PaperbackDimensions:668 pages, 9.21 × 6.14 × 1.42 inPublished:October 15, 2001Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199248915

ISBN - 13:9780199248919

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Table of Contents

Bateman and Willis: Introduction and Overview1. Theory1. Turner: The Place of Economic Values on Environmental Valuation2. Hanemann: Neo-classical Economic Theory and Contingent Valuation3. Carson, Flores, and Mitchell: The Theory and Measurement of Passive Use Value4. Sugden: Public Goods and Contingent Valuation5. Sugden: Alternatives to the Neo-classical Theory of Choice2. Methodology6. Boyle and Bergstrom: Doubt, Doubts, and Doubters: The Genesis of a New Research Agenda7. Green and Tunstall: A Psychological Perspective8. Munro and Hanley: Information, Uncertainty, and Contingent Valuation9. Choe, Parke, and Whittington: A Monte Carlo Comparison of OLS Estimation Errors and Design Efficiencies in a Two-stage Stratified Random Sampling Procedure for a Contingent Valuation Study10. Hanemann and Kanninen: Statistical Considerations in CVM11. Langford and Bateman: Multilevel Modelling and Contingent Valuation12. Adamowicz, Boxall, Louviere, Swait, and Williams: Stated Preference Methods for Valuing Environmental Amenities3. Case Studies13. Walsh and McKean: Option and Anticipatory Values for US Wilderness14. Bateman, Langford, and Rasbash: Elicitation Effects in Contingent Valuation Studies4. Institutional Frameworks15. Lauria, Whittington, Choe, Turingan, and Abiad: Household Demand for Improved Sanitation Services: A Case Study of Calamba, the Philippines16. Bonnieux and Rainelli: Contingent Valuation Methodology and the EU Institutional Framework17. Loomis: Contingent Valuation Methodology and the US Institutional Framework