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Valuing Environmental Goods: A State of the Arts Assessment of the Contingent Valuation Method, Volume 1.A of Experimental Methods for Assessing Environmental Benefits
This document is the executive summary of a much larger companion report (EE-0280B) whose focus is a state of the art assessment of the contingent valuation method (CVM). The report explores many of the possible sources of bias and related counter-arguments. The larger study is divided into two major parts. Part I, summarized in Section B through F of this summary, 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 the Part I report focuses on the question of the accuracy of measures derived with the CVM.
Part II of the larger study, summarized in this summary in Sections G through L, presents results of a 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.
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 Analysis
City: Washington State: DC ZIP: 20460
Rowman & Allanheld Address: 81 Adams Drive
City: Totowa State: NJ ZIP: 07512
- Report Details
FinalDate:Number of Pages: 55Grant/Contract #:
- How to Obtain Report
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Date Linked: 05/28/2009
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81 Adams Drive, Totowa, NJ 07512