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Beyond the crucial experiment: mapping the performance characteristics of contingent valuation

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  • Randall, Alan
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    Abstract

    Through the 1970s and 1980s, contingent valuation (CV) research progressed steadily: applications increased in number and breadth, results gained a degree of credibility, and welfare evaluations from discrete choice data permitted widespread use of policy referendum formats. Following the Exxon Valdez damage assessments, vigorous challenges to CV were mobilized. Instead of the present preoccupation with standardizing CV methods and constructing Popperian tests of CV generically, a broad-based research program is recommended, including proliferation of methods, mapping the performance characteristics of CV, and combining contingent and observed choice data.

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    File URL: http://www.sciencedirect.com/science/article/B6VFJ-3V5M2XK-7/2/a24a433f77fe0642338a8345b4657e3a
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    Bibliographic Info

    Article provided by Elsevier in its journal Resource and Energy Economics.

    Volume (Year): 20 (1998)
    Issue (Month): 2 (June)
    Pages: 197-206

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    Handle: RePEc:eee:resene:v:20:y:1998:i:2:p:197-206

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    Web page: http://www.elsevier.com/locate/inca/505569

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Richard T. Carson & Nicholas E. Flores & Kerry M. Martin & Jennifer L. Wright, 1996. "Contingent Valuation and Revealed Preference Methodologies: Comparing the Estimates for Quasi-Public Goods," Land Economics, University of Wisconsin Press, vol. 72(1), pages 80-99.
    2. Kahneman, Daniel & Knetsch, Jack L., 1992. "Valuing public goods: The purchase of moral satisfaction," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 57-70, January.
    3. Diamond, Peter, 1996. "Testing the Internal Consistency of Contingent Valuation Surveys," Journal of Environmental Economics and Management, Elsevier, vol. 30(3), pages 337-347, May.
    4. Hanemann, W Michael, 1991. "Willingness to Pay and Willingness to Accept: How Much Can They Differ?," American Economic Review, American Economic Association, vol. 81(3), pages 635-47, June.
    5. Trudy Ann Cameron, 1992. "Combining Contingent Valuation and Travel Cost Data for the Valuation of Nonmarket Goods," Land Economics, University of Wisconsin Press, vol. 68(3), pages 302-317.
    6. Adamowicz W. & Louviere J. & Williams M., 1994. "Combining Revealed and Stated Preference Methods for Valuing Environmental Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 26(3), pages 271-292, May.
    7. Hoehn, John P. & Randall, Alan, 1987. "A satisfactory benefit cost indicator from contingent valuation," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 226-247, September.
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    1. > Environmental and Natural Resource Economics > Environmental Economics > Valuation > Contingent valuation method
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    Cited by:
    1. Carson, Richard T & Flores, Nicholas A, 2000. "Contingent Valuation: Controversies and Evidence," University of California at San Diego, Economics Working Paper Series qt75k752s7, Department of Economics, UC San Diego.
    2. Sælensminde, Kjartan, 2003. "Embedding effects in valuation of non-market goods," Transport Policy, Elsevier, vol. 10(1), pages 59-72, January.
    3. Berrens, Robert P. & Jenkins-Smith, Hank & Bohara, Alok K. & Silva, Carol L., 2002. "Further Investigation of Voluntary Contribution Contingent Valuation: Fair Share, Time of Contribution, and Respondent Uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 44(1), pages 144-168, July.
    4. Hampicke, Ulrich, 2003. "Die monetäre Bewertung von Naturgütern zwischen ökonomischer Theorie und politischer Umsetzung," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 52(8).
    5. Francesco Marangon & Francesca Visintin, 2007. "Rural landscape valuation in a cross-border region," Cahiers d'Economie et Sociologie Rurales, INRA Department of Economics, vol. 84, pages 113-132.
    6. Gonzalez, Juan Marcos & Loomis, John B. & Gonzalez-Caban, Armando, 2006. "Testing Welfare Measurement Gains of Combining Stated and Revealed Preferences Methods Using Count Data Models," 2006 Annual meeting, July 23-26, Long Beach, CA 21203, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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