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Imputing Unknown Market Values: A Different Perspective on the Disparity Between WTP and WTA

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  • Akinori Tomohara

Abstract

In the process of economic development, governments often expropriate private property and compensate the owners accordingly. Using the application of environmental regulation, this paper suggests a method to impute the price of an expropriated good when the price is not available, due to the lack of markets.

Suggested Citation

  • Akinori Tomohara, 2005. "Imputing Unknown Market Values: A Different Perspective on the Disparity Between WTP and WTA," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 48(2), pages 241-256.
    • Handle: RePEc:taf:jenpmg:v:48:y:2005:i:2:p:241-256
    DOI: 10.1080/0964056042000338163
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    1. Nick Hanley & Clive L. Spash, 1993. "Cost–Benefit Analysis and the Environment," Books, Edward Elgar Publishing, number 205.
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