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Determining the Value of Non-Marketed Goods

Economic, Psychological, and Policy Relevant Aspects of Contingent Valuation Methods

  • R. J. Kopp
  • W. W. Pommerehne
  • N. Schwarz

Part of the Studies in Risk and Uncertainty book series (SIRU, volume 10)

Table of contents

  1. Front Matter
    Pages i-ix
  2. R. J. Kopp, W. W. Pommerehne, N. Schwarz
    Pages 1-6
  3. Raymond J. Kopp, Katherine A. Pease
    Pages 7-58
  4. Richard C. Bishop, Patricia A. Champ, Thomas C. Brown, Daniel W. McCollum
    Pages 59-81
  5. Raymond J. Kopp, V. Kerry Smith
    Pages 101-125
  6. Bengt Kriström
    Pages 235-272
  7. Werner W. Pommerehne, Albert Hart
    Pages 299-321
  8. Back Matter
    Pages 323-333

About this book

Introduction

Contingent valuation (CV) measures what is called passive use value or existence value. The CV method has been used to measure the benefits of environmental policy actions. CV measures of economic value rely on choice. In CV studies, choices are posed to people in surveys; analysts then use the responses to these choice questions to construct monetary measures of value. The specific mechanism used to elicit respondents' choices can take a variety of forms, including asking survey respondents whether they would purchase, vote, or pay for a program or some other well-defined object of choice. It can also be a direct elicitation of the amount each respondent would be willing to pay (WTP) to obtain an object of choice or the amount each respondent would be willing to accept (WTA) in compensation to give it up.
This volume is composed of three sections. The first section provides background into the issues underlying the public and academic discussion regarding CV and the reliability of CV estimates of economic value. In addition, this section reviews the theory underlying the measurement of economic value and discusses those aspects of the theory most relevant to CV. The second section focuses on issues that have formed the core of the CV discussions including: sensitivity of WTP estimates to the size of the program offered, tests for theoretical consistency of CV results, and the sensitivity of results to context and numerous other features of the survey and its administration. The final section addresses the application of CV to actual economic valuation tasks and discusses the types of practical problems the CV researcher will encounter.

Keywords

communication economics environment environmental policy research science and technology valuation value-at-risk

Editors and affiliations

  • R. J. Kopp
    • 1
  • W. W. Pommerehne
    • 2
  • N. Schwarz
    • 3
  1. 1.Resources for the FutureUSA
  2. 2.University of SaarlandGermany
  3. 3.University of MichiganUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-94-011-5364-5
  • Copyright Information Kluwer Academic Publishers 1997
  • Publisher Name Springer, Dordrecht
  • eBook Packages Springer Book Archive
  • Print ISBN 978-94-010-6255-8
  • Online ISBN 978-94-011-5364-5
  • Series Print ISSN 0926-972X
  • Buy this book on publisher's site
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