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Deliberative Monetary Valuation (DMV) in Practice

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  • Clive L Spash

    (CSIRO Sustainable Ecosystems, Australia)

Abstract

Economists concerned with validity, defined internally to the profession, are combining stated preference methods with participatory deliberation to address on-going criticism. 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 economists namely, multiple values, incommensurability and lexicographic preferences, social justice, fairness, and non-human values.

Suggested Citation

  • Clive L Spash, 2007. "Deliberative Monetary Valuation (DMV) in Practice," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2007-04, CSIRO Sustainable Ecosystems.
    • Handle: RePEc:cse:wpaper:2007-04
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    Cited by:

    1. Saarikoski, Heli & Aapala, Kaisu & Artell, Janne & Grammatikopoulou, Ioanna & Hjerppe, Turo & Lehtoranta, Virpi & Mustajoki, Jyri & Pouta, Eija & Primmer, Eeva & Vatn, Arild, 2022. "Multimethod valuation of peatland ecosystem services: Combining choice experiment, multicriteria decision analysis and deliberative valuation," Ecosystem Services, Elsevier, vol. 57(C).
    2. Yves Meinard & Olivier Cailloux, 2021. "Deliberation in Valuation and Decision Making: A Conceptual Clarification," Post-Print hal-03487127, HAL.
    3. 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.
    4. Spash, Clive L., 2007. "Deliberative monetary valuation (DMV): Issues in combining economic and political processes to value environmental change," Ecological Economics, Elsevier, vol. 63(4), pages 690-699, September.
    5. 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.

    More about this item

    Keywords

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    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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