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Deliberative Monetary Valuation and the Evidence for a New Value Theory

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  • Clive L. Spash

Abstract

Economists concerned with validity are combining stated-preference methods with participatory deliberation to address on-going criticism. Deliberative monetary valuation (DMV) uses formal methods of deliberation to express values for environmental change in monetary terms. However, the results have begun to define different realms of value, reflecting pluralism in public concern over environmental change. Reviewing empirical DMV studies evidences a range of issues regarded as external to economics and the validity of its methods, issues which are typically kept at arms length by most environmental economists namely, multiple values, incommensurability and lexicographic preferences, social justice, fairness, and non-human values.

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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 84 (2008)
Issue (Month): 3 ()
Pages: 469-488

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Handle: RePEc:uwp:landec:v:84:y:2008:i:3:p:469-488

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Web page: http://le.uwpress.org/

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Cited by:
  1. Clive L. Spash, 2013. "The Shallow or the Deep Ecological Economics Movement?," SRE-Disc sre-disc-2013_01, Institute for the Environment and Regional Development, Department of Socioeconomics, Vienna University of Economics and Business.
  2. Nobuyuki Ito & Kenji Takeuchi & Koichi Kuriyama & Yasushi Shoji & Takahiro Tsuge & Yohei Mitani, 2008. "The influence of decision-making rules on individual preference for ecological restoration: Evidence from an experimental survey," Discussion Papers 0820, Graduate School of Economics, Kobe University.
  3. Ali DOUAI (GREThA-GRES) & Matthieu MONTALBAN (GREThA-GRES), 2009. "Institutions and the environment: the case for a historical political economy," Cahiers du GRES 2009-07, Groupement de Recherches Economiques et Sociales.
  4. Ryan, Anthony M. & Spash, Clive L., 2011. "Is WTP an attitudinal measure? Empirical analysis of the psychological explanation for contingent values," Journal of Economic Psychology, Elsevier, vol. 32(5), pages 674-687.
  5. Lo, Alex Y. & Spash, Clive L., 2011. "Articulation of Plural Values in Deliberative Monetary Valuation: Beyond Preference Economisation and Moralisation," MPRA Paper 30002, University Library of Munich, Germany.
  6. Garmendia, Eneko & Stagl, Sigrid, 2010. "Public participation for sustainability and social learning: Concepts and lessons from three case studies in Europe," Ecological Economics, Elsevier, vol. 69(8), pages 1712-1722, June.
  7. Gómez-Baggethun, Erik & de Groot, Rudolf & Lomas, Pedro L. & Montes, Carlos, 2010. "The history of ecosystem services in economic theory and practice: From early notions to markets and payment schemes," Ecological Economics, Elsevier, vol. 69(6), pages 1209-1218, April.

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