DISTRIBUTIONAL ISSUES AND NONMARKET BENEFIT MEASUREMENT

Nancy E. Bockstael and Strand, Ivar E.,

Western Journal of Agricultural Economics, 1985, vol. 10, issue 2, 8

Abstract: The use of willingness to pay as a welfare criteria has several inherent weaknesses. Its potential for causing inequitable redistribution of income as well as ambiguity in project evaluation is explored. An empirical example is offered in a natural resource context. A travel cost model which includes both time and money costs is used for valuation and produces ambiguous results.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Date: 1985
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32323

DOI: 10.22004/ag.econ.32323

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