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This manual offers a detailed, up-to-date explanation of how to
carry out economic valuation using stated preference techniques. It
is relevant for the application of these techniques to all
non-market goods and services including air and water quality;
provision of public open space; health care that is not sold
through private markets; risk reduction policies and investments
not provided privately; provision of information as with the
recorded heritage, the protection of cultural assets and so on. The
resulting valuations can be used for a number of purposes
including, but not limited to, demonstrating the importance of a
good or service; cost-benefit analysis; setting priorities for
environmental policy; design of economic instruments; green
national/corporate accounting, and natural resource damage
assessment. Compiled by the leading experts in the field, this
manual starts by explaining the concepts. It shows how to choose
the most appropriate technique and how to design the
questionnaires. Detailed advice on econometric analysis is
provided, as well as explanation of the pitfalls that need to be
avoided.
This manual offers a detailed, up-to-date explanation of how to
carry out economic valuation using stated preference techniques. It
is relevant for the application of these techniques to all
non-market goods and services including air and water quality;
provision of public open space; health care that is not sold
through private markets; risk reduction policies and investments
not provided privately; provision of information as with the
recorded heritage, the protection of cultural assets and so on. The
resulting valuations can be used for a number of purposes
including, but not limited to, demonstrating the importance of a
good or service; cost-benefit analysis; setting priorities for
environmental policy; design of economic instruments; green
national/corporate accounting, and natural resource damage
assessment. Compiled by the leading experts in the field, this
manual starts by explaining the concepts. It shows how to choose
the most appropriate technique and how to design the
questionnaires. Detailed advice on econometric analysis is
provided, as well as explanation of the pitfalls that need to be
avoided.
Economists and others have long believed that by balancing the
costs of such public goods as air quality and wilderness areas
against their benefits, informed policy choices can be made. But
the problem of putting a dollar value on cleaner air or water and
other goods not sold in the marketplace has been a major stumbling
block. Mitchell and Carson, for reasons presented in this book,
argue that at this time the contingent valuation (CV) method offers
the most promising approach for determining public willingness to
pay for many public goods---an approach likely to succeed, if used
carefully, where other methods may fail. The result of ten years of
research by the authors aimed at assessing how surveys might best
be used to value public goods validly and reliably, this book makes
a major contribution to what constitutes best practice in CV
surveys. Mitchell and Carson begin by introducing the contingent
valuation method, describing how it works and the nature of the
benefits it can be used to measure, comparing it to other methods
for measuring benefits, and examining the data-gathering technique
on which it is based---survey research. Placing contingent
valuation in the larger context of welfare theory, the authors
examine how the CV method impels a deeper understanding of
willingness-to-pay versus willingness-to-accept compensation
measures, the possibility of existence values for public goods, the
role of uncertainty in benefit valuation, and the question of
whether a consumer goods market or a political goods market
(referenda) should be emulated. In developing a CV methodology, the
authors deal with issues of broader significance to survey
research. Their model of respondent error is relevant to current
efforts to frame a theory of response behavior and bias typology
will interest those considering the cognitive aspects of answering
survey questions. Mitchell and Carson conclude that the contingent
valuation method can obtain valid valuation information on public
goods, but only if the method is applied in a way that addresses
the potential sources of error and bias. They end their book by
providing guidelines for CV practitioners, a list of questions that
should be asked by any decision maker who wishes to use the
findings of a CV study, and suggestions for new applications of
contingent valuation. Additional features include a comprehensive
bibliography of the CV literature and an appendix summarizing more
than 100 CV studies.
This major reference work - the first of its kind - provides a
comprehensive and authoritative introduction to the large and
growing literature on contingent valuation. It includes annotated
entries on over 7,500 contingent valuation papers and studies from
over 130 countries covering both the published and gray
literatures. This book provides an interpretive historical account
of the development of contingent valuation, the most commonly used
approach to placing a value on goods not normally sold in the
marketplace. The major fields cataloged here include culture, the
environment, and health applications. This bibliography is an ideal
starting point for researchers wanting to find other studies that
have valued goods or used techniques similar to those they are
interested in. For those wanting to conduct meta analyses, the book
will serve as an invaluable guide to source material. In addition
to the print edition we offer access, for purchasers of the book,
to a website providing the contents of as a searchable Word
document and in a variety of standard bibliographic database forms.
Contingent Valuation is an indispensable reference source for
researchers, scholars and policy makers concerned with survey
approaches to the problem of environmental valuation.
This book documents a contingent valuation study for a significant
environmental good: preventing the likely injuries from oil spills
on the coast of Central California. It functions as a 'how-to'
guide by documenting design, administration, and analysis of such
studies, to reduce the long lead time which characterizes most
economic damage assessments. The book includes a CD-ROM containing
a wealth of additional material: data, questionnaires, transcripts
and more.
This volume describes what is arguably the first and only valuation
study to meet in full the reference study standards set by NOAA's
Blue Ribbon Panel on Contingent Valuation. This book documents a
contingent valuation study for a generic environmental good:
preventing the likely injuries from oil spills on the coast of
Central California. It provides a wealth of materials which will
reduce the long lead time which characterizes most economic damage
assessments. This is achieved by so richly documenting the design,
administration, and analysis of such studies as to be effectively a
'how-to' guide for undertaking state-of-the-art contingent
valuation studies. The book is supported by a CD-ROM containing a
wealth of additional material, including data, questionnaires, and
transcripts. Together, they constitute a unique and vital
contribution to the literature concerning the valuation of
non-market preferences.
The Mexican -- United States border represents much more than the
meeting place of two nations. Our border communities are often a
line of first defense -- absorbing the complex economic,
environmental and social impacts of globalization that ripple
through the region. In many ways, our success or failure in finding
solutions for the environmental, social and economic issues that
plague the region may well define our ability to meet similar
challenges thousands of miles from the border zone. Border
residents face the environmental security concerns posed by water
scarcity and transboundary air pollution; the planning and
infrastructure needs of an exploding population; the debilitating
effects of inadequate sanitary and health facilities; and the
crippling cycle of widespread poverty. Yet, with its manifold
problems, the border area remains an area of great dynamism and
hope -- a multicultural laboratory of experimentation and
grass-roots problem-solving. Indeed, as North America moves towards
a more integrated economy, citizen action at the local level is
pushing governments to adapt to the driving forces in the border
area by creating new institutional arrangements and improving old
ones. If there is one defining feature of this ground-up push for
more responsive transboundary policies and institutions, it is a
departure from the closed, formalistic models of the past to a more
open, transparent and participatory model of international
interaction.
There is a truly enormous literature on using stated preference
information to place a monetary value on environmental amenities.
This three volume set provides the key papers for understanding the
historical development of contingent valuation, its theoretical and
statistical foundations, and the major controversies. It also
contains representative papers covering all of the major
application areas in environmental valuation.
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