Behavioural Implications of Nonmarket Valuation Models

Wiktor Adamowicz

No 232420, Staff Paper Series from University of Alberta, Department of Resource Economics and Environmental Sociology

Abstract: A variety of methods exist for the valuation of nonmarket benefits. Some mechanisms determine these values from market data while others use hypothetical questions. This paper examines these mechanisms for valuing nonmarket goods and the attempts to validate these measures. The assumptions and implications of the nonmarket valuation techniques are examined and the various attempts at validation of the results are discussed. In light of the limitations of these validation approaches, a new validation procedure is suggested and an application is presented.

Keywords: Research; Methods/; Statistical; Methods (search for similar items in EconPapers)
Pages: 16
Date: 1988
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https://ageconsearch.umn.edu/record/232420/files/ualberta-staffpapers-88-03.pdf (application/pdf)

Related works:
Journal Article: Behavioral Implications of Nonmarket Valuation Models (1988)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ualbsp:232420

DOI: 10.22004/ag.econ.232420

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