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Preference Structures, Property Rights, and Paired Comparisons

  • Michael Lockwood
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    The method of paired comparisons was used to determine the structure of survey participants' value expressions for Australian native forests. The same participants were also surveyed using the contingent valuation method (CVM). Data from the paired comparisons were used to construct preference maps which enabled identification of participants whose value expressions were structurally incompatible with economic welfare theory – in particular, those participants who expressed their values according to lexicographic preferences. For some of these participants, CVM results did not provide appropriate measures of WTP. The surveys also demonstrated the importance of allowing participants' own views on property rights to dictate the valuation context offered. Copyright Kluwer Academic Publishers 1999

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    File URL: http://hdl.handle.net/10.1023/A:1008239616998
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    Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

    Volume (Year): 13 (1999)
    Issue (Month): 1 (January)
    Pages: 107-122

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    Handle: RePEc:kap:enreec:v:13:y:1999:i:1:p:107-122
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100263

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    1. Adamowicz W. & Louviere J. & Williams M., 1994. "Combining Revealed and Stated Preference Methods for Valuing Environmental Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 26(3), pages 271-292, May.
    2. Lockwood, Michael, 1998. "Integrated value assessment using paired comparisons," Ecological Economics, Elsevier, vol. 25(1), pages 73-87, April.
    3. Spash, Clive L. & Hanley, Nick, 1995. "Preferences, information and biodiversity preservation," Ecological Economics, Elsevier, vol. 12(3), pages 191-208, March.
    4. Moldau Juan Hersztajn, 1993. "A Model of Choice Where Choice Is Determined by an Ordered Set of Irreducible Criteria," Journal of Economic Theory, Elsevier, vol. 60(2), pages 354-377, August.
    5. Adamowicz, Wiktor & Swait, Joffre & Boxall, Peter & Louviere, Jordan & Williams, Michael, 1997. "Perceptions versus Objective Measures of Environmental Quality in Combined Revealed and Stated Preference Models of Environmental Valuation," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 65-84, January.
    6. Lockwood, Michael, 1997. "Integrated value theory for natural areas," Ecological Economics, Elsevier, vol. 20(1), pages 83-93, January.
    7. Loomis John & Lockwood Michael & DeLacy Terry, 1993. "Some Empirical Evidence on Embedding Effects in Contingent Valuation of Forest Protection," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 45-55, July.
    8. Thomas H. Stevens & Jaime Echeverria & Ronald J. Glass & Tim Hager & Thomas A. More, 1991. "Measuring the Existence Value of Wildlife: What Do CVM Estimates Really Show?," Land Economics, University of Wisconsin Press, vol. 67(4), pages 390-400.
    9. Lockwood, Michael & Loomis, John & De Lacy, Terry, 1994. "The relative unimportance of a nonmarket willingness to pay for timber harvesting," Ecological Economics, Elsevier, vol. 9(2), pages 145-152, February.
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