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Valuation as Revelation and Reconciliation

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  • Tim O'Riordan

Abstract

Valuation is portrayed here as a dynamic and interactive process, not a static notion linked to willingness to pay. Valuation through economic measures can be built upon by creating trusting and legitimising procedures of stakeholder negotiation and mediation. This is a familiar practice in the US, but it is only beginning to be recognised as an environmental management tool in the UK. The introduction of strategic environmental and landuse appraisal plans for shorelines, estuaries, river catchments and rural landscapes, combined with the mobilisation of protest around landuse proposals that are not seemingly justified on the basis of 'need' (incinerators, landfills, quarries, reservoirs, roads) suggest that a more legitimate participatory form of democracy is required to reveal valuation through consensual negotiation.

Suggested Citation

  • Tim O'Riordan, 1997. "Valuation as Revelation and Reconciliation," Environmental Values, White Horse Press, vol. 6(2), pages 169-183, May.
    • Handle: RePEc:env:journl:ev6:ev608
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    More about this item

    Keywords

    Valuation; empowerment; legitimacy; negotiated consent; mediation;
    All these keywords.

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)

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