IDEAS home Printed from https://ideas.repec.org/p/ags/ualbsp/232420.html
   My bibliography  Save this paper

Behavioural Implications of Nonmarket Valuation Models

Author

Listed:
  • Adamowicz, Wiktor L.

Abstract

A variety of methods exist for the valuation of nonmarket benefits. Some mechanisms determine these values from market data while others use hypothetical questions. This paper examines these mechanisms for valuing nonmarket goods and the attempts to validate these measures. The assumptions and implications of the nonmarket valuation techniques are examined and the various attempts at validation of the results are discussed. In light of the limitations of these validation approaches, a new validation procedure is suggested and an application is presented.

Suggested Citation

  • Adamowicz, Wiktor L., 1988. "Behavioural Implications of Nonmarket Valuation Models," Staff Paper Series 232420, University of Alberta, Department of Resource Economics and Environmental Sociology.
  • Handle: RePEc:ags:ualbsp:232420
    DOI: 10.22004/ag.econ.232420
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/232420/files/ualberta-staffpapers-88-03.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.232420?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Peter H. Pearse, 1968. "A New Approach to the Evaluation of Non-Priced Recreational Resources," Land Economics, University of Wisconsin Press, vol. 44(1), pages 87-99.
    2. Varian, Hal R, 1982. "The Nonparametric Approach to Demand Analysis," Econometrica, Econometric Society, vol. 50(4), pages 945-973, July.
    3. Matzkin, Rosa L. & Richter, Marcel K., 1991. "Testing strictly concave rationality," Journal of Economic Theory, Elsevier, vol. 53(2), pages 287-303, April.
    4. J. M. Bowker & John R. Stoll, 1988. "Use of Dichotomous Choice Nonmarket Methods to Value the Whooping Crane Resource," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(2), pages 372-381.
    5. Christine Seller & John R. Stoll & Jean-Paul Chavas, 1985. "Validation of Empirical Measures of Welfare Change: A Comparison of Nonmarket Techniques," Land Economics, University of Wisconsin Press, vol. 62(2), pages 156-175.
    6. W. Michael Hanemann, 1984. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 332-341.
    7. Bishop, Richard C. & Heberlein, Thomas A., 1979. "Measuring Values Of Extramarket Goods: Are Indirect Measures Biased?," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 277818, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Brookshire, David S, et al, 1982. "Valuing Public Goods: A Comparison of Survey and Hedonic Approaches," American Economic Review, American Economic Association, vol. 72(1), pages 165-177, March.
    9. Elizabeth A. Wilman, 1987. "A Simple Repackaging Model of Recreational Choices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(3), pages 603-612.
    10. Richter, Marcel K., 1979. "Duality and rationality," Journal of Economic Theory, Elsevier, vol. 20(2), pages 131-181, April.
    11. Chalfant, James A & Alston, Julian M, 1988. "Accounting for Changes in Tastes," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 391-410, April.
    12. Mary Jo Kealy & John F. Dovidio & Mark L. Rockel, 1988. "Accuracy in Valuation Is a Matter of Degree," Land Economics, University of Wisconsin Press, vol. 64(2), pages 158-171.
    13. Wiktor L. Adamowicz & Jerald J. Fletcher & Theodore Graham-Tomasi, 1989. "Functional Form and the Statistical Properties of Welfare Measures," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(2), pages 414-421.
    14. Swofford, James L & Whitney, Gerald A, 1987. "Nonparametric Tests of Utility Maximization and Weak Separability for Consumption, Leisure and Money," The Review of Economics and Statistics, MIT Press, vol. 69(3), pages 458-464, August.
    15. Richard C. Bishop & Thomas A. Heberlein, 1979. "Measuring Values of Extramarket Goods: Are Indirect Measures Biased?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 926-930.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Coyne, Alison & Adamowicz, Wiktor, 1989. "Economic Effects of Environmental Quality Change on Recreation Demand," Project Report Series 232082, University of Alberta, Department of Resource Economics and Environmental Sociology.
    2. T.A. Cameron & D.D. Huppert, 1988. ""Referendum" Contingent Valuation Estimates: Sensitivity to the Assignment of Offered Values," UCLA Economics Working Papers 519, UCLA Department of Economics.
    3. Lee, Choong-Ki & W. Mjelde, James, 2007. "Valuation of ecotourism resources using a contingent valuation method: The case of the Korean DMZ," Ecological Economics, Elsevier, vol. 63(2-3), pages 511-520, August.
    4. Timothy C. Haab & Kenneth E. McConnell, "undated". "Intuitive Bounds on Willingness to Pay," Working Papers 9609, East Carolina University, Department of Economics.
    5. W. Michael Hanemann, 1994. "Valuing the Environment through Contingent Valuation," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 19-43, Fall.
    6. Ryan, Mandy, 1998. "Valuing psychological factors in the provision of assisted reproductive techniques using the economic instrument of willingness to pay," Journal of Economic Psychology, Elsevier, vol. 19(2), pages 179-204, April.
    7. Cameron, Trudy Ann & Englin, Jeffrey, 1997. "Respondent Experience and Contingent Valuation of Environmental Goods," Journal of Environmental Economics and Management, Elsevier, vol. 33(3), pages 296-313, July.
    8. James Murphy & P. Allen & Thomas Stevens & Darryl Weatherhead, 2005. "A Meta-analysis of Hypothetical Bias in Stated Preference Valuation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 30(3), pages 313-325, March.
    9. Carmelo Javier León, 1995. "El método dicotómico de valoración contingente: una aplicación a los espacios naturales en Gran Canaria," Investigaciones Economicas, Fundación SEPI, vol. 19(1), pages 83-106, January.
    10. Gonzalez-Caban, Armando & Loomis, John, 1997. "Economic benefits of maintaining ecological integrity of Rio Mameyes, in Puerto Rico," Ecological Economics, Elsevier, vol. 21(1), pages 63-75, April.
    11. Mackenzie, John, 1991. "Valuation Of Open Space As A Composite Environmental Good Via Conjoint Analysis," 1991 Annual Meeting, August 4-7, Manhattan, Kansas 271166, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    12. Langford, Ian H. & Bateman, Ian J., 1996. "Elicitation and truncation effects in contingent valuation studies," Ecological Economics, Elsevier, vol. 19(3), pages 265-267, December.
    13. Trudy Ann Cameron & Michelle D. James, 1986. "Utilizing "Closed-Ended" Contingent Valuation Survey DAta for Preliminary Demand Assessments," UCLA Economics Working Papers 415, UCLA Department of Economics.
    14. John K. Horowitz & Kenneth E. McConnell & James J. Murphy, 2013. "Behavioral foundations of environmental economics and valuation," Chapters, in: John A. List & Michael K. Price (ed.), Handbook on Experimental Economics and the Environment, chapter 4, pages 115-156, Edward Elgar Publishing.
    15. Bergstrom, John C. & Stoll, John R., 1985. "Cognitive Decision Processes, Information, and Contingent Valuation," 1985 Annual Meeting, August 4-7, Ames, Iowa 278589, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    16. Tanguay, Mark & Adamowicz, Wiktor L. & Boxall, Peter C., 1995. "An Economic Evaluation of Woodland Caribou Conservation Programs in Northwestern Saskatchewan," Project Report Series 24039, University of Alberta, Department of Resource Economics and Environmental Sociology.
    17. Ryan, Mandy & Scott, David A. & Donaldson, Cam, 2004. "Valuing health care using willingness to pay: a comparison of the payment card and dichotomous choice methods," Journal of Health Economics, Elsevier, vol. 23(2), pages 237-258, March.
    18. Meilan Jin & Yuxian Juan & Youngjoon Choi & Choong-Ki Lee, 2019. "Estimating the Preservation Value of World Heritage Site Using Contingent Valuation Method: The Case of the Li River, China," Sustainability, MDPI, vol. 11(4), pages 1-14, February.
    19. Munro, Alistair, 2007. "When is some number really better than no number? On the optimal choice between non-market valuation methods," MPRA Paper 8978, University Library of Munich, Germany.
    20. Poe, Gregory L. & Lossin, Eric K. & Welsh, Michael P., 1992. "A Convolutions Approach to Measuring the Differences in Benefit Estimates from Dichotomous Choice Contingent Valuation Studies," Staff Papers 200545, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.

    More about this item

    Keywords

    Research Methods/ Statistical Methods;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ualbsp:232420. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/drualca.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.