Economics at your fingertips  

Modelling Winners and Losers in Contingent Valuation of Public Goods: Appropriate Welfare Measures and Econometric Analysis

J Peter Clinch and Anthony Murphy ()

Economic Journal, 2001, vol. 111, issue 470, 420-43

Abstract: Contingent valuation is now the most widely used method for valuing non-marketed goods in cost-benefit analysis. Yet, despite the fact that many externalities manifest themselves as costs to some and benefits to others, most studies restrict willingness to pay to being non-negative. This can result in significant errors in policymaking. This paper examines the importance of this, explores appropriate welfare measures for assessing losses and gains, demonstrates how these can be elicited explicitly, highlights the sensitivity of the results of such studies to the econometric specification employed and suggests ways of dealing with it. Finally, the implications for policy are examined.

Date: 2001
References: Add references at CitEc
Citations: View citations in EconPapers (25) Track citations by RSS feed

Downloads: (external link) ... =470&year=&part=null link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Modelling winners and losers in contingent valuation of public goods: appropriate welfare measures and econometric analysis (1998) Downloads
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:

Ordering information: This journal article can be ordered from
http://www.blackwell ... al.asp?ref=0013-0133

Access Statistics for this article

Economic Journal is currently edited by Martin Cripps, Steve Machin, Woulter den Haan, Andrea Galeotti, Rachel Griffith and Frederic Vermeulen

More articles in Economic Journal from Royal Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley-Blackwell Digital Licensing ().

Page updated 2019-08-20
Handle: RePEc:ecj:econjl:v:111:y:2001:i:470:p:420-43