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Personal versus Societal Preferences in Contingent Valuation Assessments

Author

Listed:
  • Peter Howley
  • Stephen Hynes
  • Cathal O'Donoghue

    (Department of Economics, National University of Ireland, Galway)

Abstract

Contingent valuation has been used extensively in estimating the value of environmental goods. One criticism of this approach, however, is that respondents in referendum-style contingent valuation surveys may express citizen assessments that take into account benefits to others rather than benefits that accrue purely to the respondent themselves. Within this context, the aim of this paper is to examine to what extent individuals express different preferences when adopting a personal or a social/citizen perspective. While this paper provides some support for the hypothesis that individuals express different preferences when adopting collective as opposed to personal choices, reported willingness to pay (WTP) was found to be insensitive to whether or not the respondents were asked the WTP question from a personal or social perspective.

Suggested Citation

  • Peter Howley & Stephen Hynes & Cathal O'Donoghue, 2010. "Personal versus Societal Preferences in Contingent Valuation Assessments," Working Papers 0167, National University of Ireland Galway, Department of Economics, revised 2010.
    • Handle: RePEc:nig:wpaper:0167
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=174
    File Function: First version, 2010
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=174
    File Function: Revised version, 2010
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    More about this item

    Keywords

    Contingent valuation; preferences; personal or social perspective Algorithmic Trading; MACD;
    All these keywords.

    JEL classification:

    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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