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Deliberative Monetary Valuation (DMV) in Practice

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  • Spash, Clive L.

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

  • Spash, Clive L., 2007. "Deliberative Monetary Valuation (DMV) in Practice," MPRA Paper 101133, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:101133
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    References listed on IDEAS

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    19. 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.
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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. Spash, Clive L., 2007. "Deliberative Monetary Valuation (DMV) in Theory," MPRA Paper 101132, University Library of Munich, Germany.
    4. 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.
    5. 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.

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    More about this item

    Keywords

    Valuation; Environmental Policy; Refusals to Trade; Lexicographic Preferences; Ethics; Cost-Benefit Analysis; Public Participation; Deliberative Democracy; Institutions;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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