Economic Valuation of the Environment: How Citizens Make Sense of Contingent Valuation Questions
This study adopts a qualitative approach in order to investigate how people make sense of contingent valuation (CV) questions of a global environmental amenity. The objective is not only to capture people’ s motivations and considerations of willingness to pay (WTP), but also to determine if they adequately comprehend an economic valuation of such public goods. The findings indicate that a large proportion of respondents do not interpret the valuation task, as intended. However, this lack of understanding is not always expressed, unless probed in relation to the elicitation question, and some people have the tendency to provide monetary estimates anyway, whatever meaning they attach to these.
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- Hanemann, W Michael, 1991. "Willingness to Pay and Willingness to Accept: How Much Can They Differ?," American Economic Review, American Economic Association, vol. 81(3), pages 635-47, June.
- Kahneman, Daniel & Ritov, Ilana & Schkade, David A, 1999. "Economic Preferences or Attitude Expressions?: An Analysis of Dollar Responses to Public Issues," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 203-35, December.
- Clark, Judy & Burgess, Jacquelin & Harrison, Carolyn M., 2000. ""I struggled with this money business": respondents' perspectives on contingent valuation," Ecological Economics, Elsevier, vol. 33(1), pages 45-62, April.
- Roy Brouwer & Neil Powe & R. Kerry Turner & Ian J. Bateman & Ian H. Langford, 1999. "Public Attitudes to Contingent Valuation and Public Consultation," Environmental Values, White Horse Press, vol. 8(3), pages 325-347, August.
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- Blamey, Russell K., 1998. "Decisiveness, attitude expression and symbolic responses in contingent valuation surveys," Journal of Economic Behavior & Organization, Elsevier, vol. 34(4), pages 577-601, March.
- Fischhoff, Baruch & Welch, Ned & Fredrick, Shane, 1999. "Construal Processes in Preference Assessment," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 139-64, December.
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