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Preference Structures, Property Rights, and Paired Comparisons

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  • Michael Lockwood
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    Abstract

    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

    Keywords: contingent valuation; lexicographic preferences; nonmarket valuation; property rights;

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    1. Lockwood, Michael, 1997. "Integrated value theory for natural areas," Ecological Economics, Elsevier, vol. 20(1), pages 83-93, January.
    2. 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.
    3. 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.
    4. Spash, Clive L. & Hanley, N, 1994. "Preferences, information and biodiversity preservation," MPRA Paper 38351, University Library of Munich, Germany.
    5. 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.
    6. 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.
    7. Lockwood, Michael, 1998. "Integrated value assessment using paired comparisons," Ecological Economics, Elsevier, vol. 25(1), pages 73-87, April.
    8. 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.
    9. 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.
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    Cited by:

    1. Lockwood, Michael, 1998. "Integrated value assessment using paired comparisons," Ecological Economics, Elsevier, vol. 25(1), pages 73-87, April.
    2. Mazzanti, Massimiliano, 2001. "The role of economics in global management of whales: re-forming or re-founding IWC?," Ecological Economics, Elsevier, vol. 36(2), pages 205-221, February.
    3. Danny Campbell & W. George Hutchinson & Riccardo Scarpa, 2007. "Incorporating Discontinuous Preferences into the Analysis of Discrete Choice Experiments," Working Papers in Economics 07/18, University of Waikato, Department of Economics.
    4. Hougaard, Jens Leth & Tvede, Mich, 2001. "The existence of maximal elements: generalized lexicographic relations," Journal of Mathematical Economics, Elsevier, vol. 36(2), pages 111-115, November.
    5. Schlapfer, Felix, 2006. "Survey protocol and income effects in the contingent valuation of public goods: A meta-analysis," Ecological Economics, Elsevier, vol. 57(3), pages 415-429, May.
    6. Saelensminde, Kjartan, 2006. "Causes and consequences of lexicographic choices in stated choice studies," Ecological Economics, Elsevier, vol. 59(3), pages 331-340, September.
    7. Tuan, Tran Hu & Lindhjem, Henrik, 2008. "Meta-analysis of nature conservation values in Asia & Oceania: Data heterogeneity and benefit transfer issues," MPRA Paper 11470, University Library of Munich, Germany.
    8. Kosenius, Anna-Kaisa, 2013. "Preference discontinuity in choice experiment: Determinants and implications," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 45(C), pages 138-145.
    9. Lockwood, Michael, 1997. "Integrated value theory for natural areas," Ecological Economics, Elsevier, vol. 20(1), pages 83-93, January.
    10. Sell, Joachim & Koellner, Thomas & Weber, Olaf & Proctor, Wendy & Pedroni, Lucio & Scholz, Roland W., 2007. "Ecosystem services from tropical forestry projects - The choice of international market actors," Forest Policy and Economics, Elsevier, vol. 9(5), pages 496-515, January.
    11. Veisten, Knut, 2007. "Contingent valuation controversies: Philosophic debates about economic theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(2), pages 204-232, April.

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