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Ethical Preferences And The Assessment Of Existence Values: Does The Neoclassical Model Fit?

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  • Edwards, Steven F.
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    Abstract

    Some of the implications of ethical preferences for traditional welfare analyses of existence values are discussed in this paper and illustrated with a lexicographic model for preference structures. Although willingness-to-pay and willingness-to-sell are well-defined, their connection with Hicksian surpluses is lost when a person is motivated by an ethical commitment to others welfare. Researchers need to expand contingent valuation methods to collect information on underlying motives and types of preferences in order to identify respondents who fit the neoclassical model of egoistic man.

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    Bibliographic Info

    Article provided by Northeastern Agricultural and Resource Economics Association in its journal Northeastern Journal of Agricultural and Resource Economics.

    Volume (Year): 15 (1986)
    Issue (Month): 2 (October)
    Pages:

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    Handle: RePEc:ags:nejare:29059

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    Web page: http://www.narea.org/
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    Keywords: Institutional and Behavioral Economics;

    References

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    1. David S. Brookshire & Larry S. Eubanks & Alan Randall, 1983. "Estimating Option Prices and Existence Values for Wildlife Resources," Land Economics, University of Wisconsin Press, vol. 59(1), pages 1-15.
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    Citations

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    Cited by:
    1. Scott, Anthony, 2002. "Identifying and analysing dominant preferences in discrete choice experiments: An application in health care," Journal of Economic Psychology, Elsevier, vol. 23(3), pages 383-398, June.
    2. Spash, Clive L., 2000. "Ecosystems, contingent valuation and ethics: the case of wetland re-creation," Ecological Economics, Elsevier, vol. 34(2), pages 195-215, August.
    3. Blamey, Russell K. & Common, Mick S. & Quiggin, John C., 1996. "Respondents To Contingent Valuation Surveys: Consumers Or Citizens? - Reply," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 40(02), August.
    4. Olof Johansson-Stenman, 1998. "The Importance of Ethics in Environmental Economics with a Focus on Existence Values," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 11(3), pages 429-442, April.
    5. Blamey, Russell, 1998. "Contingent valuation and the activation of environmental norms," Ecological Economics, Elsevier, vol. 24(1), pages 47-72, January.
    6. van den Bergh, Jeroen C. J. M. & Ferrer-i-Carbonell, Ada & Munda, Giuseppe, 2000. "Alternative models of individual behaviour and implications for environmental policy," Ecological Economics, Elsevier, vol. 32(1), pages 43-61, January.
    7. Stern, David I., 1997. "Limits to substitution and irreversibility in production and consumption: A neoclassical interpretation of ecological economics," Ecological Economics, Elsevier, vol. 21(3), pages 197-215, June.
    8. M. Common & I. Reid & R. Blamey, 1997. "Do existence values for cost benefit analysis exist?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 9(2), pages 225-238, March.
    9. Lockwood, Michael, 1997. "Integrated value theory for natural areas," Ecological Economics, Elsevier, vol. 20(1), pages 83-93, January.
    10. Lockwood, Michael, 1996. "Non-Compensatory Preference Structures In Non-Market Valuation Of Natural Area Policy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 40(02), August.
    11. Christoph, Inken B. & Peter, Guenter & Rothe, Andrea & Salamon, Petra & Weber, Sascha A. & Weible, Daniela, 2011. "School Milk Consumption in Germany - What are Important Product Attributes for Children and Parents?," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114294, European Association of Agricultural Economists.
    12. Bromley, Daniel W., 1995. "Property rights and natural resource damage assessments," Ecological Economics, Elsevier, vol. 14(2), pages 129-135, August.

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