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Personal versus Societal Preferences in Contingent Valuation Assessments

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  • Peter Howley
  • Stephen Hynes
  • Cathal O'Donoghue

    (Department of Economics, National University of Ireland, Galway)

Abstract

Contingent valuation has been used extensively in estimating the value of environmental goods. One criticism of this approach, however, is that respondents in referendum-style contingent valuation surveys may express citizen assessments that take into account benefits to others rather than benefits that accrue purely to the respondent themselves. Within this context, the aim of this paper is to examine to what extent individuals express different preferences when adopting a personal or a social/citizen perspective. While this paper provides some support for the hypothesis that individuals express different preferences when adopting collective as opposed to personal choices, reported willingness to pay (WTP) was found to be insensitive to whether or not the respondents were asked the WTP question from a personal or social perspective.

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Bibliographic Info

Paper provided by National University of Ireland Galway, Department of Economics in its series Working Papers with number 0167.

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Length: 34 pages
Date of creation: 2010
Date of revision: 2010
Handle: RePEc:nig:wpaper:0167

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Related research

Keywords: Contingent valuation; preferences; personal or social perspective Algorithmic Trading; MACD;

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