Preference Structures, Property Rights, and Paired Comparisons

Michael Lockwood

Environmental & Resource Economics, 1999, vol. 13, issue 1, 107-122

Abstract: The method of paired comparisons was used to determine the structure of survey participants' value expressions for Australian native forests. The same participants were also surveyed using the contingent valuation method (CVM). Data from the paired comparisons were used to construct preference maps which enabled identification of participants whose value expressions were structurally incompatible with economic welfare theory – in particular, those participants who expressed their values according to lexicographic preferences. For some of these participants, CVM results did not provide appropriate measures of WTP. The surveys also demonstrated the importance of allowing participants' own views on property rights to dictate the valuation context offered. Copyright Kluwer Academic Publishers 1999

Keywords: contingent valuation; lexicographic preferences; nonmarket valuation; property rights (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1023/A:1008239616998

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