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Dynamic Processes in Contingent Valuation: A Case Study Involving the Mahogany Glider

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  • Tisdell, Clement A.
  • Wilson, Clevo
  • Swarna Nantha, Hemanath

Abstract

This paper reports the results of an experiment involving a sample of 204 members of the public who were assessed on three occasions about their willingness to pay for the conservation of the mahogany glider. They were asked this question prior to information being provided to them about the glider and other focal wildlife species; after such information was provided, and finally after participants had had an opportunity to see live specimens of this glider. The mean willingness to pay of the relevant samples are compared and found to show significant variations. Theories are considered that help explain the dynamics of these variations. Serious concerns are raised about the capacity of information provision to reveal ‘true’ contingent valuations of public goods.

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Bibliographic Info

Paper provided by University of Queensland, School of Economics in its series Economics, Ecology and Environment Working Papers with number 51414.

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Date of creation: Nov 2004
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Handle: RePEc:ags:uqseee:51414

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Related research

Keywords: Awareness; contingent valuation; dynamic processes; experiential learning; information; wildlife; willingness to pay; Environmental Economics and Policy; D83; D84; Q51; Q57;

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References

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  1. Ostensson, O., 2001. "Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US, EU and Developing Countries: Ian J. Bateman and Kenneth G. Willis (Eds.); Oxford University Press, ," Resources Policy, Elsevier, vol. 27(1), pages 57-59, March.
  2. Karl C. Samples & John A. Dixon & KMarcia M. Gowen, 1986. "Information Disclosure and Endangered Species Valuation," Land Economics, University of Wisconsin Press, vol. 62(3), pages 306-312.
  3. KyeongAe Choe & Dale Whittington & Donald T. Lauria, 1996. "The Economic Benefits of Surface Water Quality Improvements in Developing Countries: A Case Study of Davao, Philippines," Land Economics, University of Wisconsin Press, vol. 72(4), pages 519-537.
  4. Peter A. Diamond & Jerry A. Hausman, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall.
  5. Carson, Richard T & Flores, Nicholas A, 2000. "Contingent Valuation: Controversies and Evidence," University of California at San Diego, Economics Working Paper Series qt75k752s7, Department of Economics, UC San Diego.
  6. Richard G. Walsh & John B. Loomis & Richard A. Gillman, 1983. "Valuing Option, Existence, and Bequest Demands for Wilderness," Land Economics, University of Wisconsin Press, vol. 59(4), pages 14-29.
  7. Ajzen, Icek & Brown, Thomas C. & Rosenthal, Lori H., 1996. "Information Bias in Contingent Valuation: Effects of Personal Relevance, Quality of Information, and Motivational Orientation," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 43-57, January.
  8. Tisdell, Clement A. & Wilson, Clevo, 2000. "Economic, Educational and Conservation Benefits of Sea Turtle Based Ecotourism: A Study focused on Mon Repos," Economics, Ecology and Environment Working Papers 55110, University of Queensland, School of Economics.
  9. Bateman, Ian J. & Willis, Kenneth G. (ed.), 2001. "Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US, EU , and developing Countries," OUP Catalogue, Oxford University Press, number 9780199248919.
  10. Todd, Peter M. & Gigerenzer, Gerd, 2003. "Bounding rationality to the world," Journal of Economic Psychology, Elsevier, vol. 24(2), pages 143-165, April.
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