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The Effects of Information in Contingent Markets for Environmental Goods: A Survey and Some New Evidence

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  • Nick Hanley
  • Alistair Munro

Abstract

This paper considers the ways in which information can impact contingent valuation estimates of environmental values. The Hoehn/Randall distinction between value formulation and value statement is employed. We distinguish several ways information should be expected to effect true Willingness to Pay, and survey past contingent valuation work in the area. A model of information impacts is used to set up a series of testable hypotheses. These are then tested using data from a contingent valuation survey of the benefits of heathland preservation.

Suggested Citation

  • Nick Hanley & Alistair Munro, 1992. "The Effects of Information in Contingent Markets for Environmental Goods: A Survey and Some New Evidence," Working Paper 848, Economics Department, Queen's University.
    • Handle: RePEc:qed:wpaper:848
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    File URL: http://qed.econ.queensu.ca/working_papers/papers/qed_wp_848.pdf
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    Cited by:

    1. Sy, Mariam Maki & Rey-Valette, Hélène & Figuières, Charles & Simier, Monique & De Wit, Rutger, 2021. "The impact of academic information supply and familiarity on preferences for ecosystem services," Ecological Economics, Elsevier, vol. 183(C).
    2. Elcin Akcura, 2013. "Information effects on consumer willingness to pay for electricity and water service attributes," Working Papers 160, European Bank for Reconstruction and Development, Office of the Chief Economist.
    3. Akcura, E., 2011. "Information Effects in Valuation of Electricity and Water Service Attributes Using Contingent Valuation," Cambridge Working Papers in Economics 1156, Faculty of Economics, University of Cambridge.

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