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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
    as

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    References listed on IDEAS

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    Cited by:

    1. 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.
    2. 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.

    More about this item

    Keywords

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

    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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