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Determining the Value of Non-Marketed Goods : Economics, Psychological and Policy Relevant Aspects of Contingent Valuation Methods :  Economics, Psychological and Policy Relevant Aspects of Contingent Valuation Methods - Raymond J. Kopp

Determining the Value of Non-Marketed Goods : Economics, Psychological and Policy Relevant Aspects of Contingent Valuation Methods

Economics, Psychological and Policy Relevant Aspects of Contingent Valuation Methods

By: Raymond J. Kopp (Editor), Werner W. Pommerehne (Editor), Norbert Schwarz (Editor)

Hardcover Published: December 2009
ISBN: 9780792399803
Number Of Pages: 333

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Contingent valuation (CV) measures what is called passive use value or existence value. The CV method has been used to measure the benefits of environmental policy actions. CV measures of economic value rely on choice. In CV studies, choices are posed to people in surveys; analysts then use the responses to these choice questions to construct monetary measures of value. The specific mechanism used to elicit respondents' choices can take a variety of forms, including asking survey respondents whether they would purchase, vote, or pay for a program or some other well-defined object of choice. It can also be a direct elicitation of the amount each respondent would be willing to pay (WTP) to obtain an object of choice or the amount each respondent would be willing to accept (WTA) in compensation to give it up. This volume is composed of three sections. The first section provides background into the issues underlying the public and academic discussion regarding CV and the reliability of CV estimates of economic value. In addition, this section reviews the theory underlying the measurement of economic value and discusses those aspects of the theory most relevant to CV. The second section focuses on issues that have formed the core of the CV discussions including: sensitivity of WTP estimates to the size of the program offered, tests for theoretical consistency of CV results, and the sensitivity of results to context and numerous other features of the survey and its administration. The final section addresses the application of CV to actual economic valuation tasks and discusses the types of practical problems the CV researcher will encounter.

Contributing Authorsp. vii
Acknowledgmentsp. ix
Editors' Introductionp. 1
Background and Theory
Contingent Valuation: Economics, Law and Politicsp. 7
Measuring the Non-Use Values: Theory and Applicationp. 59
Economic and Psychological Aspects of Valuing Risk Reductionp. 83
Methodological Issues in Contingent Valuation
Constructing Measures of Economic Valuep. 101
Contingent Valuation Surveys and Tests of Insensitivity to Scopep. 127
Cognition, Communication, and Survey Measurement: Implications for Contingent Valuation Surveysp. 165
What do Psychologists Want? Contingent Valuation as a Special Case of Asking Questionsp. 189
The Effect of Giving Respondents "Time-to-Think" on Tests of Scopep. 219
Applying Contingent Valuation
Practical Problems in Contingent Valuationp. 235
Communication Devices in Contingent Valuation Surveys-Experiments with Video[superscript 1]p. 273
Limits to the Applicability of the CV Approach? A Case Studyp. 299
Subject Indexp. 323
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780792399803
ISBN-10: 0792399803
Series: Studies in Risk and Uncertainty
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 333
Published: December 2009
Publisher: Springer
Country of Publication: NL
Dimensions (cm): 23.5 x 15.5  x 2.54
Weight (kg): 1.47