Prospects For Contingent Valuation: Lessons From The South-East Forests
The Contingent Valuation Method (CVM) has been strongly criticised in Australia following two prominent applications. The aims in this paper are to review these criticisms and to demonstrate how, through an application of the method, these potential problems were addressed. The results of the application - a valuation of the conservation benefits of the National Estate forests of Southeastern Australia - are presented. A key feature of the application was the use of focus group testing in the questionnaire design phase. Finally, an assessment is made of the future prospects for the use of the CVM in Australia.
Volume (Year): 37 (1993)
Issue (Month): 02 (August)
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- Smith, Vernon L, 1980. "Experiments with a Decentralized Mechanism for Public Good Decisions," American Economic Review, American Economic Association, vol. 70(4), pages 584-99, September.
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- Groves, Theodore & Ledyard, John O, 1977. "Optimal Allocation of Public Goods: A Solution to the "Free Rider" Problem," Econometrica, Econometric Society, vol. 45(4), pages 783-809, May.
- Kahneman, Daniel & Knetsch, Jack L., 1992. "Valuing public goods: The purchase of moral satisfaction," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 57-70, January.
- Blamey, Russell K. & Common, Mick S., 1993. "Stepping Back from Contingent Valuation," 1993 Conference (37th), February 9-11, 1993, Sydney, Australia 147487, Australian Agricultural and Resource Economics Society.
- Smith, V. Kerry, 1992. "Arbitrary values, good causes, and premature verdicts," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 71-89, January.
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