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A Primer on Nonmarket Valuation

Part of the The Economics of Non-Market Goods and Resources Book Series (volume 13)

Editors: Champ, Patricia A.; Boyle, Kevin J.; Brown, Thomas C.

DOI: 10.1007/978-94-007-7104-8

ISBN: 978-94-007-7103-1

Publisher: Springer Netherlands - Springer Journals

Feb 11, 2017

1 - 10 of 12 Chapters

Available

Valuing Environmental Goods and Services: An Economic Perspective

Segerson, Kathleen

Pages: 1 –25

[Nonmarket valuation, i.e., valuing environmental goods and services that are not traded in a market, has been increasingly used in a variety of policy and decision-making contexts. This is one (but not the only) way that researchers and practitioners have sought to define and measure the values...
Available

Conceptual Framework for Nonmarket Valuation

Flores, Nicholas E.

Pages: 27 –54

[This chapter provides an overview of the theoretical foundations of nonmarket valuation. The chapter first develops a model of individual choice where private goods are freely chosen but environmental goods are rationed from the individual’s perspective. The model is used to define compensating...
Available

Collecting Nonmarket Valuation Data

Champ, Patricia A.

Pages: 55 –82

[This chapter describes how to collect primary and secondary data for nonmarket valuation studies. The bulk of this chapter offers guidance on how to design and implement a high-quality nonmarket valuation survey. Understanding the full data collection process will also help in evaluating the...
Available

Contingent Valuation in Practice

Boyle, Kevin J.

Pages: 83 –131

[Contingent Valuation in Practice takes the reader through each of the basic steps in the design and administration of a contingent-valuation study. The text is written for the novice conducting their first study, decision makers who might want to better understand the method, and experienced...
Available

Choice Experiments

Holmes, Thomas P.; Adamowicz, Wiktor L.; Carlsson, Fredrik

Pages: 133 –186

[There has been an explosion of interest during the past two decades in a class of nonmarket stated-preference valuation methods known as choice experiments. The overall objective of a choice experiment is to estimate economic values for characteristics (or attributes) of an environmental good...
Available

Travel Cost Models

Parsons, George R.

Pages: 187 –233

[This chapter provides an introduction to Travel Cost Models used to estimate recreation demand and value recreational uses of the environment such as fishing, rock climbing, hunting, boating, etc. It includes a brief history, covers single-site and random-utility-based models, and discusses...
Available

Hedonics

Taylor, Laura O.

Pages: 235 –292

[This chapter covers the current theory and empirical methods in hedonic valuation of environmental and natural resources. A framework is first presented that links hedonic price functions to theoretically correct welfare measures for changes in environmental amenities. The major empirical...
Available

Averting Behavior Methods

Dickie, Mark

Pages: 293 –346

[Averting behavior refers to actions taken to defend against environmental or other hazards, whether by reducing exposure to hazards or by mitigating adverse effects of exposure. This chapter examines how information on averting behavior can be used to improve nonmarket valuation. The chapter...
Available

Substitution Methods

Brown, Thomas C.

Pages: 347 –390

[This chapter covers two nonmarket valuation methods founded on the concept of substitution—the replacement cost method and equivalency analysis. Both methods are widely applied but frequently misunderstood. The replacement cost method is commonly used to value ecosystem services, and equivalency...
Available

Experimental Methods in Valuation

Landry, Craig E.

Pages: 391 –429

[This chapter discusses the role of behavioral experiments in evaluation of individual economic values. Principles of experimental design play a role in application and assessment of non-market valuation methods. Experiments can be employed to assess the formation of preferences and the role of...

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