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Contingent Valuation: Past, Present and Future

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  • David Hoyos
  • Petr Mariel

Abstract

This paper summarizes the long history of the contingent valuation method, stressing the important dates and events that influenced its economic applications. It reviews the economic theory of contingent valuation, highlights the related survey design, alludes to the econometrics methodology involved and discusses the validity and reliability of this method. In summary, this paper presents the state of the art of a method that has been applied in the economic valuation of natural resources for many decades.

Suggested Citation

  • David Hoyos & Petr Mariel, 2010. "Contingent Valuation: Past, Present and Future," Prague Economic Papers, University of Economics, Prague, vol. 2010(4), pages 329-343.
  • Handle: RePEc:prg:jnlpep:v:2010:y:2010:i:4:id:380:p:329-343
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    References listed on IDEAS

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    5. Paul R. Portney, 1994. "The Contingent Valuation Debate: Why Economists Should Care," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 3-17, Fall.
    6. Richard T. Carson & W. Michael Hanemann & Raymond J. Kopp & Jon A. Krosnick & Robert Cameron Mitchell & Stanley Presser, 1998. "Referendum Design And Contingent Valuation: The Noaa Panel'S No-Vote Recommendation," The Review of Economics and Statistics, MIT Press, vol. 80(3), pages 484-487, August.
    7. Joseph C. Cooper & Michael Hanemann & Giovanni Signorello, 2002. "One-and-One-Half-Bound Dichotomous Choice Contingent Valuation," The Review of Economics and Statistics, MIT Press, vol. 84(4), pages 742-750, November.
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    15. Alberini Anna, 1995. "Optimal Designs for Discrete Choice Contingent Valuation Surveys: Single-Bound, Double-Bound, and Bivariate Models," Journal of Environmental Economics and Management, Elsevier, vol. 28(3), pages 287-306, May.
    16. McConnell, K. E., 1990. "Models for referendum data: The structure of discrete choice models for contingent valuation," Journal of Environmental Economics and Management, Elsevier, vol. 18(1), pages 19-34, January.
    17. Niklitschek+, Mario & Leon+, Javier, 1996. "Combining Intended Demand and Yes/No Responses in the Estimation of Contingent Valuation Models," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 387-402, November.
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    Cited by:

    1. Taale, Francis & Kyeremeh, Christian, 2015. "Households' willingness to pay for reliable electricity services in Ghana," MPRA Paper 65780, University Library of Munich, Germany.
    2. De Silva, Nirodha & Williams, Ryan, 2015. "Assessing The Option Value Of The Ogallala Aquifer In Texas High Plains: A Contingent Valuation Approach," 2015 Annual Meeting, January 31-February 3, 2015, Atlanta, Georgia 196921, Southern Agricultural Economics Association.
    3. Lili Reyes Hernandez & Melissa Yepes Tafur, 2013. "Evaluacion economica de preservar el mono titi cabeciblanco: Una aplicacion del metodo de valoracion contigente," REVISTA ECONOMÍA & REGIÓN, UNIVERSIDAD TECNOLÓGICA DE BOLÍVAR, vol. 7(1), pages 69-99, June.
    4. Etumnu, Chinonso, 2016. "Behavioral Determinants of Biofortified Food Acceptance: The Case of Orange-fleshed Sweet Potato in Ghana," 2016 Annual Meeting, July 31-August 2, 2016, Boston, Massachusetts 235249, Agricultural and Applied Economics Association.
    5. Taale, Francis & Kyeremeh, Christian, 2016. "Households׳ willingness to pay for reliable electricity services in Ghana," Renewable and Sustainable Energy Reviews, Elsevier, vol. 62(C), pages 280-288.
    6. Petr Fiala & Petr Šauer, 2011. "Aplikace kombinatorických aukcí na alokaci veřejných podpor v oblasti životního prostředí: ekonomický laboratorní experiment
      [Application of Combinatorial Auctions on Allocation of Public Financial
      ," Politická ekonomie, University of Economics, Prague, vol. 2011(3), pages 379-392.
    7. Rezhen Harun & Iulia C. Muresan & Felix H. Arion & Diana E. Dumitras & Ramona Lile, 2015. "Analysis of Factors that Influence the Willingness to Pay for Irrigation Water in the Kurdistan Regional Government, Iraq," Sustainability, MDPI, Open Access Journal, vol. 7(7), pages 1-13, July.
    8. Diego De Maria André & José Raimundo De Araújo Carvalho Júnior, 2016. "Spatial Willingness To Pay For A First Order Stochastic Reduction On The Risk Of Robbery," Anais do XLII Encontro Nacional de Economia [Proceedings of the 42ndd Brazilian Economics Meeting] 166, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    9. Garces-Voisenat, Juan-Pedro & Mukherjee, Zinnia, 2016. "Paying for green energy: The case of the Chilean Patagonia," Journal of Policy Modeling, Elsevier, vol. 38(2), pages 397-414.

    More about this item

    Keywords

    economic valuation; stated preference information;

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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