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Distributional Issues And Nonmarket Benefit Measurement

Author

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  • Bockstael, Nancy E.
  • Strand, Ivar E., Jr.

Abstract

The use of willingness to pay as a welfare criteria has several inherent weaknesses. Its potential for causing inequitable redistribution of income as well as ambiguity in project evaluation is explored. An empirical example is offered in a natural resource context. A travel cost model which includes both time and money costs is used for valuation and produces ambiguous results.

Suggested Citation

  • Bockstael, Nancy E. & Strand, Ivar E., Jr., 1985. "Distributional Issues And Nonmarket Benefit Measurement," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(2), pages 1-8, December.
    • Handle: RePEc:ags:wjagec:32323
    DOI: 10.22004/ag.econ.32323
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    References listed on IDEAS

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    1. Sen, Amartya, 1970. "The Impossibility of a Paretian Liberal," Journal of Political Economy, University of Chicago Press, vol. 78(1), pages 152-157, Jan.-Feb..
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    Cited by:

    1. Cattaneo, Andrea & Bucholtz, Shawn & Dewbre, Joe & Nickerson, Cynthia J., 2002. "The Crp Balancing Act: Trading Off Costs And Multiple Environmental Benefits," 2002 Annual meeting, July 28-31, Long Beach, CA 19810, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Ward, Frank A., 1985. "Income Distribution Issues And Natural Resource Policy: Welfare Effects Of Nonfederal Water Plans," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(2), pages 1-5, December.
    3. Kathleen P. Bell & Ivar E. Strand, 2003. "Reconciling Models of Recreational Route and Site Choices," Land Economics, University of Wisconsin Press, vol. 79(3), pages 440-454.
    4. Bockstael, Nancy E. & Freeman III, A. Myrick, 2006. "Welfare Theory and Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 12, pages 517-570, Elsevier.

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