Complements, Substitutes, Budget Constraints and Valuation

Atakelty Hailu, Wiktor Adamowicz and Peter Boxall

Environmental & Resource Economics, 2000, vol. 16, issue 1, 68 pages

Abstract: This study employs a multi-program contingent valuation (CVM) design tosimultaneously assess the value of three ecosystem conservation programsin Alberta, Canada. The design is different from most other CVM designsand has several different features including the natural incorporation ofdirect reminders of substitute/complementary programs and budgetconstraints. In contrast to the findings of other studies, two of the environmentalprograms appear to be complements and other combinations of the programssuggest an absence of substitution effects. The multi-program model ismore informative and robust in terms of theoretical validity and expectedrelationships with demographic and recreational characteristics of therespondents. Copyright Kluwer Academic Publishers 2000

Keywords: contingent valuation; endangered species; environmental valuation; multi-program (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (18)

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DOI: 10.1023/A:1008328920083

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