IDEAS home Printed from https://ideas.repec.org/p/cse/wpaper/2007-01.html
   My bibliography  Save this paper

Deliberative Monetary Valuation (DMV) in Theory

Author

Listed:
  • Clive L Spash

    () (CSIRO Sustainable Ecosystems, Australia)

Abstract

This paper explores and contrasts the different social processes of valuation now appearing as economic means of valuing the environment. Monetary valuation via stated preference approaches has been criticised for assuming well formed and informed preferences and excluding a range of sustainability concerns such as rights, fairness and equity. Deliberative monetary valuation (DMV) in small groups is a novel hybrid of economic and political approaches which raises the prospect of a transformative and moralising experience. Critics of standard contingent valuation approaches have advocated this as offering a way forward. However there has been a lack of clarity as to the means of obtaining values, the expected outcomes and their role. Moving to group settings of deliberation raises concepts of social willingness to pay and accept which are distinct from an aggregate of individual value, although this does not seem to have been widely recognised. A new classification of values is presented appropriate to the literature trying to merge economic and political processes. Values associated with the individual may be exchange values, charitable contributions or fair prices, while social values can be speculative, expressive or arbitrated. The use of DMV is shown to result in different values due to variations in the institutional setting and process of valuation.

Suggested Citation

  • Clive L Spash, 2007. "Deliberative Monetary Valuation (DMV) in Theory," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2007-01, CSIRO Sustainable Ecosystems.
  • Handle: RePEc:cse:wpaper:2007-01
    as

    Download full text from publisher

    File URL: http://www.csiro.au/files/files/pewj.pdf
    File Function: First version, 2007
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marianne Aasen & Arild Vatn, 2013. "Deliberation on GMOs: A Study of How a Citizens' Jury Affects the Citizens' Attitudes," Environmental Values, White Horse Press, vol. 22(4), pages 461-481, August.
    2. Christie, Mike & Fazey, Ioan & Cooper, Rob & Hyde, Tony & Kenter, Jasper O., 2012. "An evaluation of monetary and non-monetary techniques for assessing the importance of biodiversity and ecosystem services to people in countries with developing economies," Ecological Economics, Elsevier, vol. 83(C), pages 67-78.

    More about this item

    Keywords

    Deliberative Monetary Valuation (DMV); economy; environment; sustainability;

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cse:wpaper:2007-01. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CSE-Webrequest). General contact details of provider: http://edirc.repec.org/data/secsiau.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.