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Issues in improvement of the valuation of non-market goods


  • Tolley, George S.
  • Fabian, Robert G.


Environmental goods including services of natural resources and health are examples of goods not priced by trade in markets, for which it is widely agreed that monetary valuations are needed to throw light on their worth relative to market goods. Econometric and other approaches deducing values through revealed behavior constitute one way to estimate true values. Interview techniques are another. Some take strong views in favor of one of the two ways. Others take the eclectic view that both ways have something to offer and are needed in view of the difficulty at best of deducing non-market values. Most of this special volume is concerned with interview techniques, offered in the belief that this general approach is robust and susceptible to improvements that the articles explore. The articles grew in part out of the Conference on Valuing Non-Market Goods held at the University of Chicago in the Summer of 1995.

Suggested Citation

  • Tolley, George S. & Fabian, Robert G., 1998. "Issues in improvement of the valuation of non-market goods," Resource and Energy Economics, Elsevier, vol. 20(2), pages 75-83, June.
  • Handle: RePEc:eee:resene:v:20:y:1998:i:2:p:75-83

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    References listed on IDEAS

    1. Jones-Lee, M W, 1992. "Paternalistic Altruism and the Value of Statistical Life," Economic Journal, Royal Economic Society, vol. 102(410), pages 80-90, January.
    2. Andreoni, James, 1989. "Giving with Impure Altruism: Applications to Charity and Ricardian Equivalence," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1447-1458, December.
    3. Johansson, Per-Olov, 1994. "Altruism and the value of statistical life: Empirical implications," Journal of Health Economics, Elsevier, vol. 13(1), pages 111-118, March.
    4. Andreoni, James, 1988. "Privately provided public goods in a large economy: The limits of altruism," Journal of Public Economics, Elsevier, vol. 35(1), pages 57-73, February.
    5. Pratt, John W & Zeckhauser, Richard J, 1996. "Willingness to Pay and the Distribution of Risk and Wealth," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 747-763, August.
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    Cited by:

    1. Franco, Daniele & Luiselli, Luca, 2014. "Shared ecological knowledge and wetland values: a case study," MPRA Paper 66496, University Library of Munich, Germany.
    2. Dranco, Daniel & Luiselli, Luca, 2014. "How much do the common goods of rural and semi-natural landscape cost? A case study," MPRA Paper 66309, University Library of Munich, Germany, revised 2015.
    3. Daniel Franco & Luca Luiselli, 2013. "A procedure to analyse the strategic outliers and the multiple motivations in a contingent valuation: A case study for a concrete policy purpose," International Journal of Social Economics, Emerald Group Publishing, vol. 40(3), pages 246-266, February.

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