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A Theoretical Approach to Deliberative Valuation: Aggregation by Mutual Consent

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  • Richard B. Howarth
  • Matthew A. Wilson

Abstract

In deliberative valuation, a small group of selected persons explores the values that should guide collective decisions through a process of reasoned discourse. Proponents argue that deliberative techniques enhance the effectiveness and perceived legitimacy of policy making by facilitating public participation. This paper outlines an approach to deliberative valuation that is grounded in democratic theory, social psychology, and cooperative game theory, emphasizing applications to the monetary valuation of environmental services. The analysis suggests that deliberative groups that employ consent-based choice rules may aggregate individual values in a manner that systematically departs from the additive aggregation procedures of standard cost-benefit analysis.

Suggested Citation

  • Richard B. Howarth & Matthew A. Wilson, 2006. "A Theoretical Approach to Deliberative Valuation: Aggregation by Mutual Consent," Land Economics, University of Wisconsin Press, vol. 82(1), pages 1-16.
  • Handle: RePEc:uwp:landec:v:82:y:2006:i:1:p:1-16
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    References listed on IDEAS

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    1. Norton, Bryan & Costanza, Robert & Bishop, Richard C., 1998. "The evolution of preferences: Why 'sovereign' preferences may not lead to sustainable policies and what to do about it," Ecological Economics, Elsevier, vol. 24(2-3), pages 193-211, February.
    2. John M. Gowdy, 2004. "The Revolution in Welfare Economics and Its Implications for Environmental Valuation and Policy," Land Economics, University of Wisconsin Press, vol. 80(2), pages 239-257.
    3. Marco Mariotti, 1999. "Fair Bargains: Distributive Justice and Nash Bargaining Theory," Review of Economic Studies, Oxford University Press, vol. 66(3), pages 733-741.
    4. Wilson, Matthew A. & Howarth, Richard B., 2002. "Discourse-based valuation of ecosystem services: establishing fair outcomes through group deliberation," Ecological Economics, Elsevier, vol. 41(3), pages 431-443, June.
    5. Nelson, Robert H, 1987. "The Economics Profession and the Making of Public Policy," Journal of Economic Literature, American Economic Association, pages 49-91.
    6. Arild Vatn, 2004. "Environmental Valuation and Rationality," Land Economics, University of Wisconsin Press, vol. 80(1), pages 1-18.
    7. Wendy Proctor & Martin Drechsler, 2006. "Deliberative multicriteria evaluation," Environment and Planning C: Government and Policy, Pion Ltd, London, vol. 24(2), pages 169-190, April.
    8. Gregory, Robin & Wellman, Katharine, 2001. "Bringing stakeholder values into environmental policy choices: a community-based estuary case study," Ecological Economics, Elsevier, vol. 39(1), pages 37-52, October.
    9. Joseph Persky, 2001. "Cost-Benefit Analysis and the Classical Creed," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 199-208, Fall.
    10. Ken Binmore, 1998. "Game Theory and the Social Contract - Vol. 2: Just Playing," MIT Press Books, The MIT Press, edition 1, volume 2, number 0262024446, January.
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    More about this item

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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