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A Contingent Valuation Study of Uncertain Environmental Gains

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  • Macmillan, Douglas
  • Hanley, Nick
  • Buckland, Steve

Abstract

Acid deposition is a present and future cause of uncertain biodiversity losses in upland areas of Scotland important for nature conservation. Uncertainty complicates damage cost estimation and, in this paper, the authors explore the use of contingent valuation to measure willingness to pay for reduced acidification damage. Average willingness to pay was L247 and L351 per year per household under low and high damage scenarios respectively. Recovery level and recovery time did not significantly influence mean willingness to pay. When faced with risky outcomes regarding future damage and recovery, respondents were found to be risk averse to both environmental gains and losses. Copyright 1996 by Scottish Economic Society.

Suggested Citation

  • Macmillan, Douglas & Hanley, Nick & Buckland, Steve, 1996. "A Contingent Valuation Study of Uncertain Environmental Gains," Scottish Journal of Political Economy, Scottish Economic Society, vol. 43(5), pages 519-533, November.
  • Handle: RePEc:bla:scotjp:v:43:y:1996:i:5:p:519-33
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    Cited by:

    1. John Rolfe & Jill Windle, 2015. "Do Respondents Adjust Their Expected Utility in the Presence of an Outcome Certainty Attribute in a Choice Experiment?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 60(1), pages 125-142, January.
    2. Torres, Cati & Faccioli, Michela & Riera Font, Antoni, 2017. "Waiting or acting now? The effect on willingness-to-pay of delivering inherent uncertainty information in choice experiments," Ecological Economics, Elsevier, vol. 131(C), pages 231-240.
    3. Eva Kougea & Phoebe Koundouri, "undated". "Air Quality Degradation: Can economics help in measuring its welfare effects? A Review of Economic Valuation Studies," DEOS Working Papers 1129, Athens University of Economics and Business.
    4. Thomas Lundhede & Jette Bredahl Jacobsen & Nick Hanley & Niels Strange & Bo Jellesmark Thorsen, 2015. "Incorporating Outcome Uncertainty and Prior Outcome Beliefs in Stated Preferences," Land Economics, University of Wisconsin Press, vol. 91(2), pages 296-316.
    5. Desvousges, William & Mathews, Kristy & Train, Kenneth, 2012. "Adequate responsiveness to scope in contingent valuation," Ecological Economics, Elsevier, vol. 84(C), pages 121-128.
    6. Rose, Steven K. & Clark, Jeremy & Poe, Gregory L. & Rondeau, Daniel & Schulze, William D., 2002. "The private provision of public goods: tests of a provision point mechanism for funding green power programs," Resource and Energy Economics, Elsevier, vol. 24(1-2), pages 131-155, February.
    7. Spencer, Michael A. & Swallow, Stephen K. & Miller, Christopher J., 1998. "Valuing Water Quality Monitoring: A Contingent Valuation Experiment Involving Hypothetical And Real Payments," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(1), April.
    8. Michela Faccioli & Nicholas Hanley & Catalina M. Torres Figuerola & Antoni Riera Font, 2015. "Do we care about sustainability? An analysis of time sensitivity of social preferences under environmental time-persistent effects," DEA Working Papers 71, Universitat de les Illes Balears, Departament d'Economía Aplicada.
    9. Makriyannis, Christos & Johnston, Robert, 2016. "Welfare Analysis for Climate Risk Reductions: Are Current Treatments of Outcome Uncertainty Sufficient?," 2016 Annual Meeting, July 31-August 2, 2016, Boston, Massachusetts 235532, Agricultural and Applied Economics Association.
    10. Sonia Akter & Jeff Bennett, 2011. "Household perceptions of climate change and preferences for mitigation action: the case of the Carbon Pollution Reduction Scheme in Australia," Climatic Change, Springer, vol. 109(3), pages 417-436, December.
    11. Viteri Mejía, César & Brandt, Sylvia, 2015. "Managing tourism in the Galapagos Islands through price incentives: A choice experiment approach," Ecological Economics, Elsevier, vol. 117(C), pages 1-11.
    12. Douglas Macmillan & Elizabeth Duff & David Elston, 2001. "Modelling the Non-market Environmental Costs and Benefits of Biodiversity Projects Using Contingent Valuation Data," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 18(4), pages 391-410, April.
    13. Christie, Mike & Hanley, Nick & Warren, John & Murphy, Kevin & Wright, Robert & Hyde, Tony, 2006. "Valuing the diversity of biodiversity," Ecological Economics, Elsevier, vol. 58(2), pages 304-317, June.

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