ECONOMIC VALUATION, VALUES AND CONTINGENT METHOD: AN OVERVIEW

Paulo Nunes () and Peter Nijkamp

Regional Science Inquiry, 2011, vol. III, issue 1, 95-116

Abstract: In this paper the concept of total economic value of an environmental asset is introduced. The different valuation methods, putting a monetary value on environmental resources as a nonmarket good are also reviewed. Particular emphasis is placed on policy-making and the link of contingent valuation method to standard economic theory. Potential measurement bias attached to the contingent valuation estimates are also reviewed, addressed in terms of an efficient survey design and alternative microeconomic formulations.

Keywords: economic valuation; environmental resources; contingent valuation; economic theory (search for similar items in EconPapers)
JEL-codes: C21 O18 R11 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:hrs:journl:v:iii:y:2011:i:1:p:95-116

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