Coherent Arbitrariness: On Value Uncertainty for Environmental Goods
AbstractThis paper investigates the idea that people are unsure about the value they place on prospective changes in environmental goods. In particular, we focus on a parametric explanation of the determinants of a "value gap," the difference between the most someone is sure they would pay for an increase in an environmental good, and the smallest amount they are sure they would not pay. We also present a simple means of calculating aggregate willingness to pay from data on the range of willingness to pay expressed via a payment ladder.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 85 (2009)
Issue (Month): 1 ()
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Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
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- Mikołaj Czajkowski & Nick Hanley & Jacob LaRiviere, 2012.
"The Effects of Experience on Preference Uncertainty: Theory and Empirics for Public and Quasi-Public Goods,"
2012-15, Faculty of Economic Sciences, University of Warsaw.
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- Czajkowski, Mikołaj & Hanley, Nick & LaRiviere, Jacob, 2013. "The effects of experience on preference uncertainty: theory and empirics for environmental goods," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia 152155, Australian Agricultural and Resource Economics Society.
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