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Prospects For Contingent Valuation: Lessons From The South-East Forests

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  • Bennett, Jeffrey W.
  • Carter, Marc

Abstract

The Contingent Valuation Method (CVM) has been strongly criticised in Australia following two prominent applications. The aims in this paper are to review these criticisms and to demonstrate how, through an application of the method, these potential problems were addressed. The results of the application - a valuation of the conservation benefits of the National Estate forests of Southeastern Australia - are presented. A key feature of the application was the use of focus group testing in the questionnaire design phase. Finally, an assessment is made of the future prospects for the use of the CVM in Australia.

Suggested Citation

  • Bennett, Jeffrey W. & Carter, Marc, 1993. "Prospects For Contingent Valuation: Lessons From The South-East Forests," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 37(2), pages 1-15, August.
    • Handle: RePEc:ags:ajaeau:22615
    DOI: 10.22004/ag.econ.22615
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    1. Groves, Theodore & Ledyard, John O, 1977. "Optimal Allocation of Public Goods: A Solution to the "Free Rider" Problem," Econometrica, Econometric Society, vol. 45(4), pages 783-809, May.
    2. Kahneman, Daniel & Knetsch, Jack L., 1992. "Valuing public goods: The purchase of moral satisfaction," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 57-70, January.
    3. Blamey, Russell K. & Common, Mick S., 1993. "Stepping Back from Contingent Valuation," 1993 Conference (37th), February 9-11, 1993, Sydney, Australia 147487, Australian Agricultural and Resource Economics Society.
    4. Smith, V. Kerry, 1992. "Arbitrary values, good causes, and premature verdicts," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 71-89, January.
    5. Smith, Vernon L, 1980. "Experiments with a Decentralized Mechanism for Public Good Decisions," American Economic Review, American Economic Association, vol. 70(4), pages 584-599, September.
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    Cited by:

    1. R.K. Blamey & Mick S. Common & John C. Quiggin, 1995. "Respondents To Contingent Valuation Surveys: Consumers Or Citizens?," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 39(3), pages 263-288, December.
    2. Lockwood, Michael & Carberry, David, 1999. "Stated preference surveys of remnant native vegetation conservation," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 123831, Australian Agricultural and Resource Economics Society.
    3. Gemechisa Yadeta Ayana, 2017. "Farmers’ Willingness To Pay For Soil Conservation Practices In Gobu Seyo District, Eastern Wollega Zone, Oromia National Regional State Of Ethiopia," International Journal of Agriculture and Environmental Research, Malwa International Journals Publication, vol. 3(3), June.
    4. Godden, David P. & Skellern, Matthew, 2006. "Natural Resources and the Environment," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 137772, Australian Agricultural and Resource Economics Society.
    5. Jeff Bennett, 2005. "Australasian environmental economics: contributions, conflicts and ‘cop‐outs’," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(3), pages 243-261, September.
    6. Jakobsson, K. M. & Kennedy, John O.S. & Elliott, M., 1995. "Survey Methods of Valuing the Conservation of Endangered Species," 1995 Conference (39th), February 14-16, 1995, Perth, Australia 170875, Australian Agricultural and Resource Economics Society.
    7. Workie, Lamesgin Tebeje, 2017. "Households’ Willingness To Pay For Soil Conservation Practices On Cultivated Land In South Achefer District, Amhara National Regional State Of Ethiopia: A Contingent Valuation Approach," Research Theses 276459, Collaborative Masters Program in Agricultural and Applied Economics.
    8. Luca Tacconi & Jeff Bennett, 1995. "Biodiversity Conservation: The Process of Economic Assessment and Establishment of a Protected Area in Vanuatu," Development and Change, International Institute of Social Studies, vol. 26(1), pages 89-110, January.
    9. S. M. Chilton & W. G. Hutchinson, 1999. "Exploring Divergence Between Respondent and Researcher Definitions of the Good in Contingent Valuation Studies," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(1), pages 1-16, January.

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