ETHICAL PREFERENCES AND THE ASSESSMENT OF EXISTENCE VALUES: DOES THE NEOCLASSICAL MODEL FIT?

Steven F. Edwards

Northeastern Journal of Agricultural and Resource Economics, 1986, vol. 15, issue 2, 6

Abstract: Some of the implications of ethical preferences for traditional welfare analyses of existence values are discussed in this paper and illustrated with a lexicographic model for preference structures. Although willingness-to-pay and willingness-to-sell are well-defined, their connection with Hicksian surpluses is lost when a person is motivated by an ethical commitment to others welfare. Researchers need to expand contingent valuation methods to collect information on underlying motives and types of preferences in order to identify respondents who fit the neoclassical model of egoistic man.

Keywords: Institutional; and; Behavioral; Economics (search for similar items in EconPapers)
Date: 1986
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (24)

Downloads: (external link)
https://ageconsearch.umn.edu/record/29059/files/15020145.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:nejare:29059

DOI: 10.22004/ag.econ.29059

Access Statistics for this article

More articles in Northeastern Journal of Agricultural and Resource Economics from Northeastern Agricultural and Resource Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().