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Using Choice Experiments for Non-Market Valuation

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Author Info

  • Alpizar, Francisco

    (Department of Economics, School of Economics and Commercial Law, Göteborg University)

  • Carlsson, Fredrik

    ()
    (Department of Economics, School of Economics and Commercial Law, Göteborg University)

  • Martinsson, Peter

    ()
    (Department of Economics, School of Economics and Commercial Law, Göteborg University)

Abstract

This paper provides the latest research developments in the method of choice experiments applied to valuation of non-market goods. Choice experiments, along with the, by now, well-known contingent valuation method, are very important tools for valuing non-market goods and the results are used in both cost-benefit analyses and litigations related to damage assessments. The paper should provide the reader with both the means to carry out a choice experiment and to conduct a detailed critical analysis of its performance in order to give informed advice about the results. A discussion of the underlying economic model of choice experiments is incorporated, as well as a presentation of econometric models consistent with economic theory. Furthermore, a detailed discussion on the development of a choice experiment is provided, which in particular focuses on the design of the experiment and tests of validity. Finally, a discussion on different ways to calculate welfare effects is presented.

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Bibliographic Info

Paper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 52.

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Length: 37 pages
Date of creation: 19 Jun 2001
Date of revision:
Publication status: Published as Alpizar, Francisco, Fredrik Carlsson and Peter Martinsson, 'Using Choice Experiments for Non-Market Valuation' in Economic Issues, 2003, pages 83-110.
Handle: RePEc:hhs:gunwpe:0052

Contact details of provider:
Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Related research

Keywords: Choice experiments; non- market goods; stated preference methods; valuation;

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References

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