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Contingent valuation as a dynamic process


  • Tisdell, Clem
  • Wilson, Clevo
  • Swarna Nantha, Hemanath


This paper draws attention to the dynamic effects of information provision, experience and memory in the contingent valuation of environmental goods. Psychological and economic theories are used to suggest possible trajectories for contingent values of these goods in relation to these effects. Our case study of a rare wildlife species shows the possibility of marked changes from information provision and, together with other evidence, exposure to the good. It is hypothesised that the impact of these effects decays with the passage of time. The selection of the appropriate contingent value for policy purposes is discussed.

Suggested Citation

  • Tisdell, Clem & Wilson, Clevo & Swarna Nantha, Hemanath, 2008. "Contingent valuation as a dynamic process," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(4), pages 1443-1458, August.
  • Handle: RePEc:eee:soceco:v:37:y:2008:i:4:p:1443-1458

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    References listed on IDEAS

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    Cited by:

    1. Lyssenko, Nikita & Martinez-Espineira, Roberto, 2009. "`Been there done that': Disentangling option value effects from user heterogeneity when valuing natural resources with a use component," MPRA Paper 21976, University Library of Munich, Germany, revised 08 Apr 2010.
    2. Tisdell, Clement A., 2012. "Ecotourism Experiences Promoting Conservation and Changing Economic Values: The Case of Mon Repos Turtles," Economics, Ecology and Environment Working Papers 125209, University of Queensland, School of Economics.
    3. Clem Tisdell & Clevo Wilson, 2012. "Nature-based Tourism and Conservation," Books, Edward Elgar Publishing, number 13773.
    4. Li, Xiaoshu & Boyle, Kevin J. & Holmes, Thomas P. & LaRouche, Genevieve Pullis, 2014. "The effect of on-site forest experience on stated preferences for low-impact timber harvesting programs," Journal of Forest Economics, Elsevier, vol. 20(4), pages 348-362.
    5. Stigka, Eleni K. & Paravantis, John A. & Mihalakakou, Giouli K., 2014. "Social acceptance of renewable energy sources: A review of contingent valuation applications," Renewable and Sustainable Energy Reviews, Elsevier, vol. 32(C), pages 100-106.
    6. Tisdell, Clement A., 2007. "Valuing the Otago Peninsula: The Economic Benefits of Conservation," Economics, Ecology and Environment Working Papers 55104, University of Queensland, School of Economics.
    7. Li, Xiaoshu & Boyle, Kevin J. & Pullis, Genevieve, 2012. "Does On-site Experience Affect Responses to Stated Preference Questions?," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124991, Agricultural and Applied Economics Association.

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