Stated Preference Evaluation of Government Budgets

Geoffrey N. Kerr, Ross Cullen and Kenneth F.D. Hughey

No 98520, 2005 Conference, August 26-27, 2005, Nelson, New Zealand from New Zealand Agricultural and Resource Economics Society

Abstract: Stated preference approaches are widely used in non-market valuation. However, their potential uses extend far beyond valuation. In particular they can be used to assess efficiency of resource allocations and to design optimal resource allocations. Changes to the government budget were evaluated using a choice experiment. Results indicate potential efficiency gains from reallocation of the budget to items with higher marginal utility. In particular, New Zealand residents want more spending on health, education and the environment, with health spending consistently having the highest marginal benefits. People want less government money spent on income support. The choice experiment was able to identify the impacts of demographic factors. Young people rated spending on the environment and education more highly than other respondents.

Keywords: Community/Rural/Urban Development; Consumer/Household Economics; Environmental Economics and Policy; Food Consumption/Nutrition/Food Safety; Health Economics and Policy; Political Economy; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 13
Date: 2005-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nzar05:98520

DOI: 10.22004/ag.econ.98520

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