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Using Donation Mechanisms to Value Nonuse Benefits from Public Goods
Abstract This paper discusses an experiment in which the value for an unfamiliar environmental good, whose total value has a large nonuse component, is verified using a revealed-preference method. AsExpand
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Measuring Values of Extramarket Goods: Are Indirect Measures Biased?
The well known travel cost method (TC)has been widely applied to outdoor recreation. A second approach has been referred to in the past as the Davis method, the questionnaire approach, and contingentExpand
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Donation Payment Mechanisms and Contingent Valuation: An Empirical Study of Hypothetical Bias
Donation payment mechanisms are well suited forsome contingent valuation studies. In aneffort to better understand the discrepancythat has been consistently found between actualand hypotheticalExpand
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Endangered Species and Uncertainty: The Economics of a Safe Minimum Standard
Species extinction irreversibly narrows the reservoir of potential resources. The future repercussions of this narrowing are uncertain. This paper develops the safe minimum standard (SMS) approach toExpand
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Which Response Format Reveals the Truth about Donations to a Public Good
Several contingent valuation studies have found that the open-ended format yields lower estimates of willingness to pay (WTP) than does the closed-ended, or dichotomous choice, format. In this study,Expand
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Rethinking the scope test as a criterion for validity in contingent valuation
Abstract The scope test is widely recommended as a way to evaluate the validity of contingent valuation (CV) studies. We measured contingent values of parts and wholes for four differentExpand
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The evolution of preferences Why 'sovereign' preferences may not lead to sustainable policies and what to do about it
Abstract The conventional economic paradigm assumes that tastes and preferences are exogenous to the economic system, and that the economic problem consists of optimally satisfying those preferences.Expand
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Issues in ecosystem valuation: improving information for decision making
In Spring 1991, the U.S. Environmental Protection Agency convened an expert group of ecologists, economists and other social scientists for the purpose of advancing the state of the art of ecosystemExpand
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Option Value: An Exposition and Extension
This article examines the role of the discount rate in making decisions that will have significant implications for the environment. The authors begin by providing a rationale for discounting inExpand
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