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Valuing Environmental Goods: A State of the Arts Assessment of the Contingent Valuation Method, Volume I.B of Experimental Methods for Assessing Environmental Benefits
This document is a state of the art assessment of the contingent valuation method. The report explores many of the possible sources of bias and related counter-arguments. The study is divided into two major parts. Part I is a literature review encompassing the historical setting of the contingent valuation method, its development and uses over a number of years, and potential relevance of research in experimental economics for the approach. Part I also considers the implications for the structure of survey instruments used in CVM, as well as for results of research findings in other disciplines, including psychology. Finally, Part I report focuses on the question of the accuracy of measures derived with the CVM.
Part II presents results of a 1984 conference on "An Assessment of the State of the Arts of the Contingent Valuation Method," where the results of the research in Part I were subjected to critical review by a number of environmental economists and by a review panel consisting of Kenneth Arrow, Daniel Kahneman, Sherwin Rosen, and Vernon Smith. Major conclusions concerning the valuation approach are summarized.
A summary of this report is also available.
The downloadable files and the corresponding parts and chapters of the report are as follows:
- File EE-0280B-01:
1. Benefits Analysis
1. Benefits Analysis - Valuation
1. Benefits Analysis - Valuation - Stated Preference
1. Benefits Analysis - Valuation - Stated Preference - Contingent ValuationEnvironmental Media:
f. MultimediaAuthors: Murdoch, James
Schulze, William D.
Gerking, Shelby D.
Brookshire, David S.
Cummings, Ronald G.EPA Project Officer/ Manager:
Carlin, AlanGeographic Area:Study Purpose: Methodology Development & EvaluationReport Series: Experimental Methods for Assessing Environmental Benefits
List of all reports in the Series:
- Participating Organizations
Wyoming, University of, Institute for Policy Research Address:
City: State: ZIP:
Environmental Protection Agency, Office of Policy, Planning and Evaluation, Office of Policy Analysis Address:
City: Washington State: DC ZIP: 20460
Rowman & Allanheld Address: 81 Adams Drive
City: Totowa State: NJ ZIP: 07512
- Report Details
FinalDate:Number of Pages: 326Grant/Contract #:
- How to Obtain Report
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Use link(s) to download or view the report
- Beginning through Part I: Chapter 4 (PDF, 300.3K, About PDF)
- Part I: Chapter 5 and 6 (PDF, 577.1K, About PDF)
- Part II: Chapters 7 - 11 (PDF, 429.8K, About PDF)
- Part II: Chapters 12 and 13 to end (PDF, 386.1K, About PDF)
Date Linked: 05/28/2009
Other Ways to Obtain the Report:
You can obtain this report by contacting Rowman & Allanheld directly at:
81 Adams Drive, Totowa, NJ 07512
- Part I. The Contingent Valuation Method
Chapter 1. Introduction
Chapter 2. A Historical Perspective for the CVM Assessment
Chapter 3. Applications of the CVM: An Overview of the Issues
Chapter 4. Experimental Economics: Implications for the CVM
- Chapter 5. Imputing Actual Behavior from Choices Made under Hypothetical Circumstances
Chapter 6. Comparison Studies: What is Accuracy
- Part II. The Assessment Conference and Conclusions as to the State of the Arts of the CVM
Chapter 7. The Assessment Conference: Overview
Chapter 8. The Possibility of Satisfactory Benefit Estimation with Contingent Markets--by Alan Randall
Chapter 9. Does Contingent Valuation Work? -- by Richard C. Bishop and Thomas A. Heberlein
Chapter 10. On Assessing the State of the Arts of the Contingent Valuation Method of Valuing Environmental Changes--by A. Myrick Freeman III
Chapter 11. To Keep or Toss the Contingent Valuation Method--by V. Kerry Smith
- Chapter 12. The Review Panel's Assessment
Chapter 13. Summary and Conclusions
TO KEEP OR TOSS THE CONTINGENT VALUATION METHOD --- BY V. KERRY SMITH
ON ASSESSING THE STATE OF THE ARTS OF THE CONTINGENT VALUATION METHOD OF VALUING ENVIRONMENTAL CHANGES
--- BY A. MYRICK FREEMAN IIIDOES CONTINGENT VALUATION WORK?
--- BY RICHARD C. BISHOP AND THOMAS A HEBERLEIN
THE POSSIBILITY OF SATISFACTORY BENEFIT ESTIMATION WITH CONTINGENT MARKETS --- BY ALAN RANDALL