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An Examination of Recent Revealed Preference Valuation Methods and Results

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  • Robert Mendelsohn

Abstract

In order to support the use of economics in environmental management, revealed preference studies continue to advance the measurement of environmental values. Together with integrated assessment models, these values are ever more useful for environmental management. This article briefly reviews revealed preference methods, which infer values from observed behavior. A new emphasis in this literature has been to exploit the intertemporal properties of panel data to value the environment. These panel methods have great potential, but the literature needs to develop theoretical and empirical best practices. The article also examines the latest empirical results across several environmental issues: climate change, pollution, and conservation. Valuation methods continue to be applied to additional issues and locations. Looking toward the future, technical change and economic growth suggest that additional pollutants and global-scale effects will emerge. Valuation methods need to keep pace with these new developments to be able to address the key environmental management challenges of the future.

Suggested Citation

  • Robert Mendelsohn, 2019. "An Examination of Recent Revealed Preference Valuation Methods and Results," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 13(2), pages 267-282.
    • Handle: RePEc:oup:renvpo:v:13:y:2019:i:2:p:267-282.
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    File URL: http://hdl.handle.net/10.1093/reep/rez003
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    Citations

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    Cited by:

    1. Mark V. Brady & Jordan Hristov & Fredrik Wilhelmsson & Katarina Hedlund, 2019. "Roadmap for Valuing Soil Ecosystem Services to Inform Multi-Level Decision-Making in Agriculture," Sustainability, MDPI, vol. 11(19), pages 1-20, September.
    2. Czajkowski, Mikołaj & Bylicki, Michał & Budziński, Wiktor & Buczyński, Mateusz, 2022. "Valuing externalities of outdoor advertising in an urban setting – the case of Warsaw," Journal of Urban Economics, Elsevier, vol. 130(C).
    3. Zanchi, Giuliana & Brady, Mark V., 2019. "Evaluating the contribution of forest ecosystem services to societal welfare through linking dynamic ecosystem modelling with economic valuation," Ecosystem Services, Elsevier, vol. 39(C).
    4. Elli Papastergiou & Dionysis Latinopoulos & Myrto Evdou & Athanasios Kalogeresis, 2023. "Exploring Associations between Subjective Well-Being and Non-Market Values When Used in the Evaluation of Urban Green Spaces: A Scoping Review," Land, MDPI, vol. 12(3), pages 1-31, March.
    5. Derek Lemoine & Sarah Kapnick, 2024. "Financial markets value skillful forecasts of seasonal climate," Nature Communications, Nature, vol. 15(1), pages 1-10, December.

    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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