IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v76y1994i4p689-708..html
   My bibliography  Save this article

Contingent Valuation and Social Choice

Author

Listed:
  • Daniel McFadden

Abstract

The contingent valuation method for estimating the existence value of natural resources is examined for psychophysical robustness, statistical reliability, and economic sensibility. Extensions of standard models for willingness-to-pay, and suitable econometric techniques for analyzing these models, are developed. The analysis is applied to a series of experiments on the value of preserving wilderness areas in the western United States. The results call into question the reliability of the CV method for estimating existence values.

Suggested Citation

  • Daniel McFadden, 1994. "Contingent Valuation and Social Choice," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(4), pages 689-708.
  • Handle: RePEc:oup:ajagec:v:76:y:1994:i:4:p:689-708.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1243732
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Chambers,Robert G., 1988. "Applied Production Analysis," Cambridge Books, Cambridge University Press, number 9780521314275, December.
    2. Susan M. Capalbo & Michael Denny, 1985. "Testing Long-Run Productivity Models for the Canadian and U.S. Agricultural Sectors," NBER Working Papers 1764, National Bureau of Economic Research, Inc.
    3. Susan M. Capalbo & Michael G. S. Denny, 1986. "Testing Long-Run Productivity Models for the Canadian and U.S. Agricultural Sectors," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(3), pages 615-625.
    4. repec:mes:challe:v:31:y:1988:i:4:p:56-58 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ajagec:v:76:y:1994:i:4:p:689-708.. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum). General contact details of provider: http://edirc.repec.org/data/aaeaaea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.