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Issues In Nonmarket Valuation And Policy Application: A Retrospective Glance

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  • Walsh, Richard G.
  • Johnson, Donn M.
  • McKean, John R.
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    Abstract

    While issues in estimating nonmarket values continue to cause concern, resource economists have more reason now than ever before to be optimistic. More progress toward improved measurement has been made in the past six years than in the previous quarter century since development of the contingent valuation and travel cost methods. The new challenge is to learn how to adjust past studies to estimate nonmarket values for future policy analysis. The process involves developing an understanding of the important variables that explain the observed difference in estimates. This paper illustrates how the results thus far could be adjusted to develop some tentative estimates of the recreation-use value of Forest Service resources.

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    File URL: http://purl.umn.edu/32446
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    Bibliographic Info

    Article provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.

    Volume (Year): 14 (1989)
    Issue (Month): 01 (July)
    Pages:

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    Handle: RePEc:ags:wjagec:32446

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    Web page: http://waeaonline.org/
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    Related research

    Keywords: Research Methods/ Statistical Methods; Resource /Energy Economics and Policy;

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    Cited by:
    1. Nijkamp, Peter & Vindigni, Gabriella & Nunes, Paulo A.L.D., 2008. "Economic valuation of biodiversity: A comparative study," Ecological Economics, Elsevier, vol. 67(2), pages 217-231, September.
    2. Pierre Baret & Benjamin Dreveton, 2007. "L'Evaluation Des Impacts Environnementaux : Une Grille De Lecture," Post-Print halshs-00543113, HAL.
    3. Bengt Kriström, 1993. "Comparing continuous and discrete contingent valuation questions," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 3(1), pages 63-71, February.
    4. Shrestha, Ram K. & Loomis, John B., 2001. "Testing a meta-analysis model for benefit transfer in international outdoor recreation," Ecological Economics, Elsevier, vol. 39(1), pages 67-83, October.
    5. Liu, Shuang & Stern, David I., 2008. "A Meta-Analysis of Contingent Valuation Studies in Coastal and Near-Shore Marine Ecosystems," MPRA Paper 11608, University Library of Munich, Germany.
    6. MacMillan, Douglas & Hanley, Nick & Buckland, Steve, 1995. "Valuing Biodiversity Losses Due To Acid Deposition: A Contingent Valuation Study Of Uncertain Environmental Gains," Discussion Papers in Ecological Economics 140539, University of Stirling, Department of Economics.
    7. Ram Shrestha & John Loomis, 2003. "Meta-Analytic Benefit Transfer of Outdoor Recreation Economic Values: Testing Out-of-Sample Convergent Validity," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 25(1), pages 79-100, May.
    8. Bateman, Ian J. & Langford, Ian H. & Turner, R. Kerry & Willis, Ken G. & Garrod, Guy D., 1995. "Elicitation and truncation effects in contingent valuation studies," Ecological Economics, Elsevier, vol. 12(2), pages 161-179, February.
    9. Lindhjem, Henrik, 2006. "20 years of stated preference valuation of non-timber benefits from Fennoscandian forests: A meta-analysis," MPRA Paper 11467, University Library of Munich, Germany.
    10. Himayatullah Khan, 2009. "Willingness to pay and demand elasticities for two national parks: empirical evidence from two surveys in Pakistan," Environment, Development and Sustainability, Springer, vol. 11(2), pages 293-305, April.
    11. Stina Hökby & Tore Söderqvist, 2003. "Elasticities of Demand and Willingness to Pay for Environmental Services in Sweden," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 26(3), pages 361-383, November.
    12. Kaul, Sapna & Boyle, Kevin J. & Kuminoff, Nicolai V. & Parmeter, Christopher F. & Pope, Jaren C., 2013. "What can we learn from benefit transfer errors? Evidence from 20 years of research on convergent validity," Journal of Environmental Economics and Management, Elsevier, vol. 66(1), pages 90-104.
    13. Jon Nelson & Peter Kennedy, 2009. "The Use (and Abuse) of Meta-Analysis in Environmental and Natural Resource Economics: An Assessment," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(3), pages 345-377, March.
    14. Kline, Jeffrey & Wichelns, Dennis, 1998. "Measuring heterogeneous preferences for preserving farmland and open space," Ecological Economics, Elsevier, vol. 26(2), pages 211-224, August.

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