Deliberative Monetary Valuation (DMV) in Practice

Clive Spash

No 2007-04, Socio-Economics and the Environment in Discussion (SEED) Working Paper Series from CSIRO Sustainable Ecosystems

Abstract: Economists concerned with validity, defined internally to the profession, are combining stated preference methods with participatory deliberation to address on-going criticism. DMV uses formal methods of deliberation to express values for environmental change in monetary terms. However, the results have begun to define different realms of value, reflecting pluralism in public concern over environmental change. Reviewing empirical DMV studies evidences a range of issues regarded as external to economics and the validity of its methods, issues which are typically kept at arms length by economists namely, multiple values, incommensurability and lexicographic preferences, social justice, fairness, and non-human values.

Keywords: Deliberative Monetary Valuation (DMV); economy; environment; sustainability (search for similar items in EconPapers)
JEL-codes: D46 Q00 Q51 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2007-05
New Economics Papers: this item is included in nep-env
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Citations: View citations in EconPapers (5)

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