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The Effects of Information in Contingent Markets for Environmental Goods: A Survey and Some New Evidence

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  • Nick Hanley
  • Alistair Munro

Abstract

This paper considers the ways in which information can impact contingent valuation estimates of environmental values. The Hoehn/Randall distinction between value formulation and value statement is employed. We distinguish several ways information should be expected to effect true Willingness to Pay, and survey past contingent valuation work in the area. A model of information impacts is used to set up a series of testable hypotheses. These are then tested using data from a contingent valuation survey of the benefits of heathland preservation.

Suggested Citation

  • Nick Hanley & Alistair Munro, 1992. "The Effects of Information in Contingent Markets for Environmental Goods: A Survey and Some New Evidence," Working Papers 848, Queen's University, Department of Economics.
  • Handle: RePEc:qed:wpaper:848
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    File URL: http://qed.econ.queensu.ca/working_papers/papers/qed_wp_848.pdf
    File Function: First version 1992
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    1. repec:ebd:wpaper:160 is not listed on IDEAS
    2. Akcura, E., 2011. "Information Effects in Valuation of Electricity and Water Service Attributes Using Contingent Valuation," Cambridge Working Papers in Economics 1156, Faculty of Economics, University of Cambridge.

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