IDEAS home Printed from https://ideas.repec.org/a/hrs/journl/viiiy2011i1p95-116.html
   My bibliography  Save this article

Economic Valuation, Values And Contingent Method: An Overview

Author

Listed:
  • Paulo Nunes

    (The Johns Hopkins University, Bologna, Italy)

  • Peter Nijkamp

    (Department of Spatial Economics, VU University Amsterdam, The Netherlands)

Abstract

In this paper the concept of total economic value of an environmental asset is introduced. The different valuation methods, putting a monetary value on environmental resources as a nonmarket good are also reviewed. Particular emphasis is placed on policy-making and the link of contingent valuation method to standard economic theory. Potential measurement bias attached to the contingent valuation estimates are also reviewed, addressed in terms of an efficient survey design and alternative microeconomic formulations.

Suggested Citation

  • Paulo Nunes & Peter Nijkamp, 2011. "Economic Valuation, Values And Contingent Method: An Overview," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 95-116, June.
    • Handle: RePEc:hrs:journl:v:iii:y:2011:i:1:p:95-116
    as

    Download full text from publisher

    File URL: http://www.rsijournal.eu/ARTICLES/Journal_june_2011/RSIJ_June_Issue_F.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Trudy Ann Cameron, 1991. "Interval Estimates of Non-Market Resource Values from Referendum Contingent Valuation Surveys," Land Economics, University of Wisconsin Press, vol. 67(4), pages 413-421.
    2. Bohm, Peter, 1972. "Estimating demand for public goods: An experiment," European Economic Review, Elsevier, vol. 3(2), pages 111-130.
    3. Brookshire, David S. & Ives, Berry C. & Schulze, William D., 1976. "The valuation of aesthetic preferences," Journal of Environmental Economics and Management, Elsevier, vol. 3(4), pages 325-346, December.
    4. Peter Bohm, 1972. "Estimating the demand for public goods: An experiment," Framed Field Experiments 00126, The Field Experiments Website.
    5. Champ, Patricia A. & Bishop, Richard C. & Brown, Thomas C. & McCollum, Daniel W., 1997. "Using Donation Mechanisms to Value Nonuse Benefits from Public Goods," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 151-162, June.
    6. Cameron Trudy Ann & Quiggin John, 1994. "Estimation Using Contingent Valuation Data from a Dichotomous Choice with Follow-Up Questionnaire," Journal of Environmental Economics and Management, Elsevier, vol. 27(3), pages 218-234, November.
    7. Andreoni, James, 1989. "Giving with Impure Altruism: Applications to Charity and Ricardian Equivalence," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1447-1458, December.
    8. Andreoni, James, 1990. "Impure Altruism and Donations to Public Goods: A Theory of Warm-Glow Giving?," Economic Journal, Royal Economic Society, vol. 100(401), pages 464-477, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lilia Rodríguez-Tapia & Daniel A. Revollo-Fernández & Jorge A. Morales-Novelo, 2017. "Household’s Perception of Water Quality and Willingness to Pay for Clean Water in Mexico City," Economies, MDPI, vol. 5(2), pages 1-14, April.
    2. Ramiro Flores Xolocotzi, 2014. "El valor económico del uso recreativo que presta el Parque Ambiental Bicentenario en Metepec Estado de México (México)," Economia y Sociedad., Universidad Michoacana de San Nicolas de Hidalgo, Facultad de Economia, issue 30, pages 15-31, Enero-Jun.
    3. Xaysompheng Sengkhamyong & Helmut Yabar & Takeshi Mizunoya, 2022. "Assessing Household Willingness to Pay for the Conservation of the Phou Chom Voy Protected Area in Lao PDR," Sustainability, MDPI, vol. 14(18), pages 1-20, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cristiano Cechella, 2011. "The Influence Of Cultural Affinity For The Boost Of Brazilian Investment In Portugal," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 59-72, June.
    2. repec:hrs:journl:v:3:y:2011:i:1:p:73-84 is not listed on IDEAS
    3. repec:hrs:journl:v:3:y:2011:i:1:p:43-58 is not listed on IDEAS
    4. repec:hrs:journl:v:3:y:2011:i:1:p:95-116 is not listed on IDEAS
    5. Florian Mandija & Jozef Bushati & Piro Zoga & Floran Vila, 2011. "Source Apportionment Of Pm10, Pm2.5 And Pm1 In The Larger City In The North Of Albania," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 85-94, June.
    6. Saleh Ahmed & Juan Manuel Pantoja Ypanaque, 2011. "Do Bangladesh And Peru Reach United Nations Millennium Development Goals By 2015? A Comparative Performance Assessment," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 73-84, June.
    7. repec:hrs:journl:v:3:y:2011:i:1:p:59-72 is not listed on IDEAS
    8. Christos Dionelis & Maria Giaoutzi, 2011. "Promoting Res And Rue In Transport Policies For Sustainable Tourism," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 43-58, June.
    9. repec:hrs:journl:v:3:y:2011:i:1:p:23-42 is not listed on IDEAS
    10. repec:hrs:journl:v:3:y:2011:i:1:p:85-94 is not listed on IDEAS
    11. Peter Nijkamp, 2011. "The Role Of Evaluation In Supporting A Human Sustainable Development: A Cosmonomic Perspective," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 13-22, June.
    12. Stratigea A. & Biska A. & Giaoutzi M., 2011. "Prospects Of Renewable Energy Production In The Mediterranean Region," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 23-42, June.
    13. repec:hrs:journl:v:3:y:2011:i:1:p:13-22 is not listed on IDEAS
    14. Richard Carson & Nicholas Flores & Norman Meade, 2001. "Contingent Valuation: Controversies and Evidence," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 19(2), pages 173-210, June.
    15. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489.
    16. Gubanova, Tatiana & Adamowicz, Wiktor L. & McMillan, Melville, 2009. "‘Pocket and Pot’: Hypothetical Bias in a No-Free-Riding Public Contribution Game," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49318, Agricultural and Applied Economics Association.
    17. Blamey, Russell K., 1998. "Decisiveness, attitude expression and symbolic responses in contingent valuation surveys," Journal of Economic Behavior & Organization, Elsevier, vol. 34(4), pages 577-601, March.
    18. Grolleau, Gilles & Sutan, Angela & Vranceanu, Radu, 2016. "Do people contribute more to intra-temporal or inter-temporal public goods?," Research in Economics, Elsevier, vol. 70(1), pages 186-195.
    19. Giffoni, Francesco & Florio, Massimo, 2023. "Public support of science: A contingent valuation study of citizens' attitudes about CERN with and without information about implicit taxes," Research Policy, Elsevier, vol. 52(1).
    20. Elisabeth Gsottbauer & Jeroen Bergh, 2011. "Environmental Policy Theory Given Bounded Rationality and Other-regarding Preferences," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 49(2), pages 263-304, June.
    21. Chilton, S. M. & Hutchinson, W. G., 2000. "A note on the warm glow of giving and scope sensitivity in contingent valuation studies," Journal of Economic Psychology, Elsevier, vol. 21(4), pages 343-349, August.
    22. Dragicevic, Arnaud Z. & Ettinger, David, 2011. "Private Valuation of a Public Good in Three Auction Mechanisms," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 2(2), pages 1-29, April.
    23. Nicolas Jacquemet & Alexander James & Stéphane Luchini & Jason Shogren, 2011. "Social Psychology and Environmental Economics: A New Look at ex ante Corrections of Biased Preference Evaluation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 48(3), pages 413-433, March.
    24. James Murphy & P. Allen & Thomas Stevens & Darryl Weatherhead, 2005. "A Meta-analysis of Hypothetical Bias in Stated Preference Valuation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 30(3), pages 313-325, March.
    25. Michael Ahlheim & Friedrich Schneider, 2002. "Allowing for Household Preferences in Emission Trading – A Contribution to the Climate Policy Debate," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 21(4), pages 317-342, April.
    26. Ledyard, John O., "undated". "Public Goods: A Survey of Experimental Research," Working Papers 861, California Institute of Technology, Division of the Humanities and Social Sciences.
    27. Atozou, Baoubadi & Tamini, Lota D. & Bergeronm, Stephane & Doyon, Maurice, 2020. "Factors Explaining the Hypothetical Bias: How to Improve Models for Meta-Analyses," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 45(2), March.

    More about this item

    Keywords

    economic valuation; environmental resources; contingent valuation; economic theory;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hrs:journl:v:iii:y:2011:i:1:p:95-116. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dimitrios K. Kouzas (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.