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A Primer on Nonmarket ValuationExperimental Methods in Valuation

A Primer on Nonmarket Valuation: Experimental Methods in Valuation [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 personal characteristics, social factors, and economic constraints on economic values. Experiments can be used to test the efficacy of nonmarket valuation methods and to study the effect of the valuation task, information, and context on valuation responses. We discuss these issues in turn, incorporating pertinent literature, to provide a review and synthesis of experimental methods in valuation.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Primer on Nonmarket ValuationExperimental Methods in 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.
Landry, Craig E.
A Primer on Nonmarket Valuation — Feb 11, 2017
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38 pages

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Publisher
Springer Netherlands
Copyright
© Springer Science+Business Media B.V. (outside the USA) 2017
ISBN
978-94-007-7103-1
Pages
391 –429
DOI
10.1007/978-94-007-7104-8_10
Publisher site
See Chapter on Publisher Site

Abstract

[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 personal characteristics, social factors, and economic constraints on economic values. Experiments can be used to test the efficacy of nonmarket valuation methods and to study the effect of the valuation task, information, and context on valuation responses. We discuss these issues in turn, incorporating pertinent literature, to provide a review and synthesis of experimental methods in valuation.]

Published: Feb 11, 2017

Keywords: Nonmarket valuation; Experiments; Preference formation; Measurement; Valuation efficacy; Contextual effects

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