Monetary Valuation of the Environment

Wolfgang Buchholz () and Dirk Rübbelke

Chapter 3 in Foundations of Environmental Economics, 2019, pp 37-66 from Springer

Abstract: Abstract This chapter mainly considers the contingent valuation method (CVM) through which agents’ preferences for environmental quality are elicited by survey questions. After describing its microeconomic foundations, the advantages that this widely applied stated preference technique for environmental quality assessment has over revealed preference approaches are highlighted. The chapter then discusses the conceptual and practical problems of CVM studies focussing on the many decisions that evaluators have to make in the design of such studies. The limitations of this technique are pointed out, and it is shown how the quality and validity of CVM studies can be improved by observance of some thoughtful guidelines.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-16268-9_3

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DOI: 10.1007/978-3-030-16268-9_3

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