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Decisions vs. Willingness-to-Pay in Social Choice

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  • Paul Anand

Abstract

The paper compares use of willingness to pay values with multi-attribute utility as ways of modelling social choice problems in the environment. A number of reasons for moving away from willingness to pay are reviewed. The view proposed is that social choice is about the integration of competing claim types (utilities, rights, social contracts and beliefs about due process). However, willingness to pay is only indirectly related to the first of these and assumes an Arrovian approach, namely one in which social choice is regarded as the aggregation of people's preferences.

Suggested Citation

  • Paul Anand, 2000. "Decisions vs. Willingness-to-Pay in Social Choice," Environmental Values, , vol. 9(4), pages 419-430, November.
    • Handle: RePEc:sae:envval:v:9:y:2000:i:4:p:419-430
    DOI: 10.3197/096327100129342137
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    References listed on IDEAS

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    1. Peter A. Diamond & Jerry A. Hausman, 1993. "On Contingent Valuation Measurement Of Nonuse Values," Contributions to Economic Analysis, in: Contingent Valuation: A Critical Assessment, pages 3-38, Emerald Group Publishing Limited.
    2. Peter A. Diamond & Jerry A. Hausman & Gregory K. Leonard, 1993. "Does Contingent Valuation Measure Preferences?," Contributions to Economic Analysis, in: Contingent Valuation: A Critical Assessment, pages 41-89, Emerald Group Publishing Limited.
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