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Applying the Contingent Valuation Method in Resource Accounting: A Bold Proposal

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Author Info

  • Boman, Mattias

    (Southern Swedish Forest Research Centre, Swedish University of Agricultural Sciences)

  • Huhtala, Anni

    (Environmental Economics, MTT Economic Research)

  • Nilsson, Charlotte

    (National Institute of Economic Research)

  • Alroth, Sofia

    (Environmental Strategies Research Group)

  • Bostedt, Göran

    (Dept. of Forest Economics, Swedish University of Agricultural Sciences)

  • Mattssson, Leif

    (Southern Swedish Forest Research Centre, Swedish University of Agricultural Sciences)

  • Gong, Peichen

    (Dept. of Forest Economics, Swedish University of Agricultural Sciences)

Abstract

Resource accounting involves complementing conventional national accounts with changes in environmental and natural resource capital valued in monetary terms. By adopting the Ramsey device of "Bliss", we derive a theoretically consistent environmentally adjusted NDP (Net Domestic Product) measure. The measure indicates sustainable future consumption that an economy can support along the optimal path approaching "Bliss", or "sustainability" determined by national environmental goals. The goals accepted by the Swedish parliament are used to show the applicability of the contingent valuation method to elicit non-market benefits of an economy approaching the sustainability targets. We investigate the compatibility of marginal willingness to pay measures derived on hypothetical markets with market prices used in national accounts. Finally, we raise certain issues of survey design, e.g. to take advantage of the CVM as a democratic device for value estimation over time.

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Bibliographic Info

Paper provided by National Institute of Economic Research in its series Working Paper with number 85.

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Length: 31 pages
Date of creation: 27 May 2003
Date of revision:
Handle: RePEc:hhs:nierwp:0085

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  1. Barot, Bharat & Yang, Zan, 2002. "House Prices and Housing Investment in Sweden and the United Kingdom: Econometric Analysis for the Period 1970-1998," Working Paper 80, National Institute of Economic Research.
  2. Huhtala, Anni & Samakovlis, Eva, 2003. "Green Accounting, Air Pollution and Health," Working Paper 82, National Institute of Economic Research.
  3. Eriksson, Kimmo & Karlander, Johan & Öller, Lars-Erik, 1996. "Hierarchical Assignments: Stability and Fairness," Working Paper 50, National Institute of Economic Research.
  4. Arai, Mahmood & Heyman, Fredrik, 2000. "Permanent and Temporary Labour: Job and Worker Flows in Sweden, 1989-1998," Working Paper 71, National Institute of Economic Research.
  5. Ahlroth, Sofia & Bjorklund, Anders & Forslund, Anders, 1997. "The Output of the Swedish Education Sector," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 43(1), pages 89-104, March.
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Cited by:
  1. Samakovlis, Eva, 2008. "How are Green National Accounts Produced in Practice?," Working Paper 105, National Institute of Economic Research.

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