Studies in Risk and Uncertainty

Determining the Value of Non-Marketed Goods

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

Editors: Kopp, Raymond J., Pommerehne, Werner W., Schwarz, Norbert (Eds.)

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About this book

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.

Table of contents (12 chapters)

  • Editors’ Introduction

    Kopp, R. J. (et al.)

    Pages 1-6

  • Contingent Valuation: Economics, Law and Politics

    Kopp, Raymond J. (et al.)

    Pages 7-58

  • Measuring Non-Use Values: Theory and Empirical Applications

    Bishop, Richard C. (et al.)

    Pages 59-81

  • Economic and Psychological Aspects of Valuing Risk Reduction

    Viscusi, W. Kip

    Pages 83-99

  • Constructing Measures of Economic Value

    Kopp, Raymond J. (et al.)

    Pages 101-125

Buy this book

eBook $229.00
price for USA (gross)
  • ISBN 978-94-011-5364-5
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $289.00
price for USA
  • ISBN 978-0-7923-9980-3
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $289.00
price for USA
  • ISBN 978-94-010-6255-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Determining the Value of Non-Marketed Goods
Book Subtitle
Economic, Psychological, and Policy Relevant Aspects of Contingent Valuation Methods
Editors
  • Raymond J. Kopp
  • Werner W. Pommerehne
  • Norbert Schwarz
Series Title
Studies in Risk and Uncertainty
Series Volume
10
Copyright
1997
Publisher
Springer Netherlands
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-94-011-5364-5
DOI
10.1007/978-94-011-5364-5
Hardcover ISBN
978-0-7923-9980-3
Softcover ISBN
978-94-010-6255-8
Series ISSN
0926-972X
Edition Number
1
Number of Pages
IX, 333
Topics