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Deliberative Monetary Valuation and the Evidence for a New Value Theory

  • Clive L. Spash

Economists concerned with validity are combining stated-preference methods with participatory deliberation to address on-going criticism. Deliberative monetary valuation (DMV) uses formal methods of deliberation to express values for environmental change in monetary terms. However, the results have begun to define different realms of value, reflecting pluralism in public concern over environmental change. Reviewing empirical DMV studies evidences a range of issues regarded as external to economics and the validity of its methods, issues which are typically kept at arms length by most environmental economists namely, multiple values, incommensurability and lexicographic preferences, social justice, fairness, and non-human values.

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File URL: http://le.uwpress.org/cgi/reprint/84/3/469
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Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 84 (2008)
Issue (Month): 3 ()
Pages: 469-488

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Handle: RePEc:uwp:landec:v:84:y:2008:i:3:p:469-488
Contact details of provider: Web page: http://le.uwpress.org/

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  1. Kevin C. Urama & Ian Hodge, 2006. "Participatory Environmental Education and Willingness to Pay for River Basin Management: Empirical Evidence from Nigeria," Land Economics, University of Wisconsin Press, vol. 82(4), pages 542-561.
  2. 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.
  3. Federico Aguilera-Klink & Juan S�nchez-Garc�a, 2002. "Social participation, institutional change, and land property in the building up of sustainability: a case study of land-use conflict in Tenerife (Canary Islands)," Environment and Planning C: Government and Policy, Pion Ltd, London, vol. 20(4), pages 593-612, August.
  4. Spash, Clive L. & Vatn, Arild, 2006. "Transferring environmental value estimates: Issues and alternatives," Ecological Economics, Elsevier, vol. 60(2), pages 379-388, December.
  5. Spash, Clive L. & Hanley, Nick, 1995. "Preferences, information and biodiversity preservation," Ecological Economics, Elsevier, vol. 12(3), pages 191-208, March.
  6. repec:env:journl:ev3:ev319 is not listed on IDEAS
  7. repec:env:journl:ev8:ev817 is not listed on IDEAS
  8. MacMillan, Douglas & Hanley, Nick & Lienhoop, Nele, 2006. "Contingent valuation: Environmental polling or preference engine?," Ecological Economics, Elsevier, vol. 60(1), pages 299-307, November.
  9. repec:env:journl:ev15:ev1501 is not listed on IDEAS
  10. Sagoff, M., 1998. "Aggregation and deliberation in valuing environmental public goods:: A look beyond contingent pricing," Ecological Economics, Elsevier, vol. 24(2-3), pages 213-230, February.
  11. 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.
  12. 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.
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