Deliberative Monetary Valuation (DMV) in Practice

Clive Spash

MPRA Paper from University Library of Munich, Germany

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: Valuation; Environmental Policy; Refusals to Trade; Lexicographic Preferences; Ethics; Cost-Benefit Analysis; Public Participation; Deliberative Democracy; Institutions (search for similar items in EconPapers)
JEL-codes: A13 D46 D61 D62 Q51 Q57 Q58 (search for similar items in EconPapers)
Date: 2007-05
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published in Land Economics 3.84(2008): pp. 469-488

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Related works:
Working Paper: Deliberative Monetary Valuation (DMV) in Practice (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:101133

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