Articulation of Plural Values in Deliberative Monetary Valuation: Beyond Preference Economisation and Moralisation

Alex Lo and Clive Spash

MPRA Paper from University Library of Munich, Germany

Abstract: The use of deliberative methods to assess environmental values in monetary terms has been motivated by the potential for small group discussion to help with preference formation and the inclusion of non-economic values. In this review, two broad approaches are identified: preference economisation and preference moralisation. The former is analytical, concentrates upon issues of poor respondent cognition and produces a narrow conception of value linked to utilitarianism. The latter emphasises political legitimacy, appeals to community values and tends to privilege arguments made in the public interest. Both approaches are shown to embrace forms of value convergence which undermine the prospects for value pluralism. As a result exclusion and predefinition of values dominates current practice. In order to maintain democratic credentials, the importance attributed to monetary value needs to be left as an open question to be addressed as part of a process determining an ‘agreement to pay’. To this end we identify a discourse-based approach as a third way consistent with the democratic and value plural potential of deliberative monetary valuation.

Keywords: environmental valuation; deliberation; stated preferences; democracy; willingness to pay; value pluralism (search for similar items in EconPapers)
JEL-codes: A13 D02 D03 D46 D61 D78 Q51 (search for similar items in EconPapers)
Date: 2011-03-31
New Economics Papers: this item is included in nep-env
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Citations: View citations in EconPapers (1)

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