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The Contingent Valuation Method: Retrospect and Prospect

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  • Spash, Clive L.

Abstract

This paper explores the contingent valuation method for environmental valuation. Issues are raised over the validity of the approach as a method of assessing the underlying preferences of individuals. An alternative interpretation is given to the method as a means of exploring underlying motivation in a rich vein of social psychological research.

Suggested Citation

  • Spash, Clive L., 2008. "The Contingent Valuation Method: Retrospect and Prospect," MPRA Paper 101234, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:101234
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    References listed on IDEAS

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    Cited by:

    1. Nikola Jovanoski, 2015. "Estimating the Value of Preserving the Doubs," IRENE Working Papers 15-02, IRENE Institute of Economic Research.
    2. Anthony Amoah & Peter G. Moffatt, 2017. "Estimating demand for reliable piped-water services in urban Ghana: An application of competing valuation approaches," University of East Anglia School of Economics Working Paper Series 2017-01, School of Economics, University of East Anglia, Norwich, UK..
    3. Álvarez, Begoña & Rodríguez-Míguez, Eva, 2011. "Patients' self-interested preferences: Empirical evidence from a priority setting experiment," Social Science & Medicine, Elsevier, vol. 72(8), pages 1317-1324, April.
    4. Peng Ning & Sang-Ho Lee, 2019. "Estimating the Young Generation’s Willingness to Pay (WTP) for PM 2.5 Control in Daegu, Korea, and Beijing, China," Sustainability, MDPI, vol. 11(20), pages 1-20, October.
    5. Artem Korzhenevych & Charles Kofi Owusu, 2021. "Renewable Minigrid Electrification in Off-Grid Rural Ghana: Exploring Households Willingness to Pay," Sustainability, MDPI, vol. 13(21), pages 1-17, October.

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    More about this item

    Keywords

    Contingent valuation; cost-benefit analysis; valuation of Nature; economic valuation; psychology; behaviour; ethics; lexicographic preferences; incommensurability; refusals to trade; public policy; survey design; sociology of science;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment 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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