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Ex Ante Valuation of Atmospheric Visibility

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  • Thomas D. Crocker
  • Jason F. Shogren

Abstract

In a world of incomplete markets for environmental goods, ex ante planned expenditures rather than ex post realized outcomes explain the values individuals attach to these goods. We use the distance function to develop restrictions from a model of ex ante consumer behavior involving these goods. A contingent valuation approach is then employed to estimate policy-relevant components of the ex ante economic values that recreationists attach to differing subjective probabilities of alternative atmospheric visibility levels at a wilderness location and at an urban location in Oregon. Marginal valuations of probability changes are similar at the two sites. Marginal rates of time preference for resolving uncertainties vary between 10 and 50 percent and are inversely related to education. Existence value averages 10 percent of total value, and evidence is mixed that site-specific values act as surrogates for general environmental preferences.

Suggested Citation

  • Thomas D. Crocker & Jason F. Shogren, 1990. "Ex Ante Valuation of Atmospheric Visibility," Center for Agricultural and Rural Development (CARD) Publications 90-wp56, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    • Handle: RePEc:ias:cpaper:90-wp56
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    Cited by:

    1. Rekola, Mika & Pouta, Eija, 2005. "Public preferences for uncertain regeneration cuttings: a contingent valuation experiment involving Finnish private forests," Forest Policy and Economics, Elsevier, vol. 7(4), pages 635-649, May.
    2. Jason Shogren & Thomas Crocker, 1991. "Cooperative and noncooperative protection against transferable and filterable externalities," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 1(2), pages 195-214, June.
    3. England, Richard W., 2007. "Motor fuel taxation, energy conservation, and economic development: A regional approach," Ecological Economics, Elsevier, vol. 61(2-3), pages 409-416, March.
    4. Halstead, John M. & Huang, Ju-Chin & Stevens, Thomas H. & Harper, Wendy, 2002. "Tinkering With Valuation Estimates: Is There A Future For Willingness To Accept Measures?," 2002 Annual meeting, July 28-31, Long Beach, CA 19724, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Halstead, John M. & Stevens, Thomas H. & Harper, Wendy & Hill, L. Bruce, 2004. "Electricity Deregulation and the Valuation of Visibility Loss in Wilderness Areas: A Research Note," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 34(1), pages 1-11.

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