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Deliberative Monetary Valuation (DMV) in Practice

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Author Info

  • Clive L Spash

    () (CSIRO Sustainable Ecosystems, Australia)

Abstract

Economists concerned with validity, defined internally to the profession, are combining stated preference methods with participatory deliberation to address on-going criticism. 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 economists namely, multiple values, incommensurability and lexicographic preferences, social justice, fairness, and non-human values.

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File URL: http://www.csiro.au/files/files/pewk.pdf
File Function: First version, 2007
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Bibliographic Info

Paper provided by CSIRO Sustainable Ecosystems in its series Socio-Economics and the Environment in Discussion (SEED) Working Paper Series with number 2007-04.

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Length: 39 pages
Date of creation: May 2007
Date of revision:
Handle: RePEc:cse:wpaper:2007-04

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Keywords: Deliberative Monetary Valuation (DMV); economy; environment; sustainability;

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