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Contingent Valuation of Quasi-Public Goods: Validity, Reliability, and Application To Valuing a Historic Site

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  • Catherine M. Chambers

    (Central Missouri State University)

  • Paul E. Chambers

    (Central Missouri State University)

  • John C. Whitehead

    (East Carolina University)

Abstract

This article employs the contingent valuation method (CVM) to measure the non- market value of preservation of the Ste. Genevieve Academy, a quasi-public good. This study represents a new application of the CVM featuring a historical resource. As such, the authors explore the validity and reliability of this application of the method. Construct validity tests based on economic theory and the reliability test of internal consistency are conducted. The authors find evidence that the CVM can be a useful approach for measuring the nonmarket value of quasi-public goods such as historical resources. The authors also illustrate how the CVM can be used for policy analysis of preservation of historical sites.

Suggested Citation

  • Catherine M. Chambers & Paul E. Chambers & John C. Whitehead, 1998. "Contingent Valuation of Quasi-Public Goods: Validity, Reliability, and Application To Valuing a Historic Site," Public Finance Review, , vol. 26(2), pages 137-154, March.
    • Handle: RePEc:sae:pubfin:v:26:y:1998:i:2:p:137-154
    DOI: 10.1177/109114219802600203
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    References listed on IDEAS

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