Estimating non-market values under scenario and policy ambiguity: the case of climate change mitigation in Australia
Sonia Akter () and
No 94881, Research Reports from Australian National University, Environmental Economics Research Hub
This report proposes an extension to existing models of non-expected utility (NEU) in the stated preference (SP) literature. The extension incorporates the impact of multiple sources of ambiguity in individual decision making behaviour. Empirical testing of the proposed decision model was carried out in Australia using a dichotomous choice contingent valuation study of a national carbon pollution reduction scheme (CPRS). The results of the study demonstrate that subjective expectations of the context scenario and subjective policy expectations are important determinants of individual decision making in a stated preference framework. The results of the study also demonstrate that decision weight functions are non-linear (quadratic) in subjective scenario expectations and subjective policy expectation. Although evidence was found to link willingness to pay to scenario ambiguity, policy ambiguity was found to have no statistically significant influence on individual decision making.
Keywords: Environmental Economics and Policy; Resource /Energy Economics and Policy (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Working Paper: Estimating non-market values under scenario and policy ambiguity: the case of climate change mitigation in Australia (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ags:eerhrr:94881
Access Statistics for this paper
More papers in Research Reports from Australian National University, Environmental Economics Research Hub Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().