Environmental Economics

Measuring Values: A Conceptual Framework for Interpreting Transactions with Special Reference to Contingent Valuation of Visibility

People express their value for a good when they pay something for it. Interpreting "good" and "payment" very broadly, we offer a general analytical framework for characterizing such transactions. It is suitable for interpreting actual transactions as well as for creating hypothetical transactions for research purposes. It is described here both in general terms and with special application to one particular kind of transaction, contingent valuation studies in which individuals describe the value to them of hypothetical changes in visibility.

  • Keywords

    1. Benefits Analysis
    1. Benefits Analysis - Valuation
    1. Benefits Analysis - Valuation - Stated Preference
    1. Benefits Analysis - Valuation - Stated Preference - Contingent Valuation
    Environmental Media:
    a. Air
    a. Air - Tropospheric
    Fischoff, Baruch
    Furby, Lita
    EPA Project Officer/ Manager:
    Carlin, Alan
    Geographic Area:
    Study Purpose:
    Methodology Development & Evaluation
    Inventory Record #: EE-0385
  • Participating Organizations

    Research Organization:

    Eugene Research InstituteAddress: 474 Willamette Street Suite 310
    City: Eugene State: OR ZIP: 97401
    Phone: Fax:
    Funding Organization:
    Environmental Protection Agency, Office of Policy, Planning and EvaluationAddress:
    City: State: ZIP:
    Phone: Fax:
  • Report Details
    Number of Pages:
    Comment: There is no mention of EPA sponsorship in the report, but it was presumably written as part of EPA Cooperative Agreement CR846655-01.
    Grant/Contract #:
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