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What is the Value of Rangitoto Island?

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  • Dan Vadnjal
  • Martin O'Connor
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    Abstract

    Contingent Valuation has been promoted as a catch-all approach to environmental valuation. While there have been numerous attempts in recent years to place monetary values on environmental amenities, studies have often reported a high frequency of protest, zero or inordinately large dollar-value responses. This paper reports on the results of a survey designed to obtain information on how people actually interpret questions of paying to avoid changes in their views of Rangitoto Island. Evidence suggests that the meaning respondents attach to the actual dollar values they offer or bid are inconsistent with the conventional logic that underlies Contingent Valuation. Instead, respondents might be seen to be expressing views about how things ought to be in society, and that it is simply not right to develop Rangitoto Island.

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    Bibliographic Info

    Article provided by White Horse Press in its journal Environmental Values.

    Volume (Year): 3 (1994)
    Issue (Month): 4 (November)
    Pages: 369-380

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    Handle: RePEc:env:journl:ev3:ev320

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    Web page: http://www.erica.demon.co.uk

    Related research

    Keywords: Contingent valuation; valuation; protest vote;

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    Cited by:
    1. Attfield, Robin, 1998. "Existence value and intrinsic value," Ecological Economics, Elsevier, vol. 24(2-3), pages 163-168, February.
    2. Vatn, Arild, 2005. "Rationality, institutions and environmental policy," Ecological Economics, Elsevier, vol. 55(2), pages 203-217, November.
    3. Clark, Judy & Burgess, Jacquelin & Harrison, Carolyn M., 2000. ""I struggled with this money business": respondents' perspectives on contingent valuation," Ecological Economics, Elsevier, vol. 33(1), pages 45-62, April.
    4. van Rensburg, Tom M. & Mill, Greig A. & Common, Mick & Lovett, Jon, 2002. "Preferences and multiple use forest management," Ecological Economics, Elsevier, vol. 43(2-3), pages 231-244, December.
    5. Nyborg, Karine, 2000. "Homo Economicus and Homo Politicus: interpretation and aggregation of environmental values," Journal of Economic Behavior & Organization, Elsevier, vol. 42(3), pages 305-322, July.
    6. Nyborg, Karine, 2000. "Project analysis as input to public debate: Environmental valuation versus physical unit indicators," Ecological Economics, Elsevier, vol. 34(3), pages 393-408, September.
    7. Brown, Paul M. & Cameron, Linda D., 2000. "What can be done to reduce overconsumption?," Ecological Economics, Elsevier, vol. 32(1), pages 27-41, January.
    8. Lohmann, Larry, 2009. "Toward a different debate in environmental accounting: The cases of carbon and cost-benefit," Accounting, Organizations and Society, Elsevier, vol. 34(3-4), pages 499-534, April.
    9. O'Connor, Martin, 2000. "Pathways for environmental evaluation: a walk in the (Hanging) Gardens of Babylon," Ecological Economics, Elsevier, vol. 34(2), pages 175-193, August.
    10. Brouwer, Roy, 2000. "Environmental value transfer: state of the art and future prospects," Ecological Economics, Elsevier, vol. 32(1), pages 137-152, January.
    11. 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.
    12. Wiser, Ryan H., 2007. "Using contingent valuation to explore willingness to pay for renewable energy: A comparison of collective and voluntary payment vehicles," Ecological Economics, Elsevier, vol. 62(3-4), pages 419-432, May.
    13. Noel, Jean-Francois & O'Connor, Martin & Tsang King Sang, Jessy, 2000. "The Bouchereau woodland and the transmission of socio-ecological economic value," Ecological Economics, Elsevier, vol. 34(2), pages 247-266, August.

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