Preferences, Information and Biodiversity Preservation
This paper considers the nature of preferences for the preservation of biodiversity, and the extent to which individuals are well-informed about biodiversity. We present evidence that the elicitation of monetary bids to pay for biodiversity preservation, as required for cost-benefit analysis, fails as a measure of welfare changes due to the prevalence of preferences which neoclassical economics defines as lexicographic. That is, a significant proportion of individuals refuse to make trade-offs which require the substitution of biodiversity for other goods. In addition, we show that understanding of the biodiversity concept is extremely limited, raising concerns over a reliance on stated preferences, as revealed in contingent valuation studies, for decision-making on this issue. Results from two samples (students and the general public) are described. This is a paper from the Ecological Economics discussion paper series edited by Clive L. Spash and run from Stirling University from 1994 to 1996. This particular paper was later published as (Spash and Hanley, 1995). Spash, C.L., Hanley, N., 1995. Preferences, information and biodiversity preservation. Ecological Economics vol.12, no.3 pp.191-208.
(This abstract was borrowed from another version of this item.)
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||Jul 1993|
|Date of revision:|
|Contact details of provider:|| Postal: Division of Economics, University of Stirling, Stirling, Scotland FK9 4LA|
Phone: +44 (0)1786 467473
Fax: +44 (0)1786 467469
Web page: http://www.econ.stir.ac.uk/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Solow Andrew & Polasky Stephen & Broadus James, 1993. "On the Measurement of Biological Diversity," Journal of Environmental Economics and Management, Elsevier, vol. 24(1), pages 60-68, January.
- Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-97, September.
- Knetsch, Jack L., 1990. "Environmental policy implications of disparities between willingness to pay and compensation demanded measures of values," Journal of Environmental Economics and Management, Elsevier, vol. 18(3), pages 227-237, May.
- Thomas H. Stevens & Jaime Echeverria & Ronald J. Glass & Tim Hager & Thomas A. More, 1991. "Measuring the Existence Value of Wildlife: What Do CVM Estimates Really Show?," Land Economics, University of Wisconsin Press, vol. 67(4), pages 390-400.
- Nick Hanley & Alistair Munro, . "The Effects of Information in Contingent Markets for Enviromental Goods," Working Papers Series e94/5, University of Stirling, Division of Economics.
When requesting a correction, please mention this item's handle: RePEc:stl:stlewp:93/12. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Liam Delaney)
If references are entirely missing, you can add them using this form.