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Alternatives to the Neo‐Classical Theory of Choice

Robert Sugden

in Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US, EU , and developing Countries

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248919
eISBN:
9780191595950
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248915.003.0006
Subject:
Economics and Finance, Development, Growth, and Environmental

The concepts of accuracy and bias in surveys, like that of elicitation of preferences, presuppose that there are true answers to the questions that contingent valuation (CV) studies address. This ... More


The Economic Theory of WTP and WTA

W. Michael Hanemann

in Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US, EU , and developing Countries

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248919
eISBN:
9780191595950
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248915.003.0003
Subject:
Economics and Finance, Development, Growth, and Environmental

The aim of this chapter is to examine the properties of welfare measures under alternative preference structures for q (the item being valued) and to identify the observable implications for measured ... More


Willingness‐To‐Pay Question Format Effects in Contingent Valuation Studies

Ian J. Bateman, Ian H. Langford, and Jon Rasbash

in Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US, EU , and developing Countries

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248919
eISBN:
9780191595950
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248915.003.0015
Subject:
Economics and Finance, Development, Growth, and Environmental

The willingness‐to‐pay (WTP) or willingness‐to‐accept (WTA) question is the central focus of any contingent evaluation (CV) exercise, and is the point at which the valuation being sought is elicited. ... More


Consumer Response to Mandated Labeling of Genetically Modified Foods

Nicholas Kalaitzandonakes, Leonie A. Marks, and Steven S. Vickner

in Labeling Genetically Modified Food: The Philosophical and Legal Debate

Published in print:
2008
Published Online:
January 2008
ISBN:
9780195326864
eISBN:
9780199870325
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195326864.003.0007
Subject:
Philosophy, Moral Philosophy

This chapter presents market data showing that consumers are not willing to pay a premium for non-GM food when given a choice between GM and non-GM food. Its data come from the Netherlands and China, ... More


De Rationibus est Disputandum: Profiling “Warm-glowers”

Paulo A. L. D. Nunes and Laura Onofri

in Global Environmental Commons: Analytical and Political Challenges in Building Governance Mechanisms

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199656202
eISBN:
9780191742149
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199656202.003.0011
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter explores econometric analysis for capturing the relationship between a motivational variable, ‘warm glow’ for the provision of an environmental public good, and socio-economic ... More


Evaluating the demand for heritage

Alan Peacock and Ilde Rizzo

in The Heritage Game: Economics, Policy, and Practice

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199213177
eISBN:
9780191707124
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199213177.003.0007
Subject:
Economics and Finance, Public and Welfare

The fact that the benefits derived from heritage artefacts are non-marketable or depend on the direct consumption of them does not preclude an attempt to estimate their value in terms of their ... More


Addressing Possible Objections

EYAL ZAMIR and BARAK MEDINA

in Law, Economics, and Morality

Published in print:
2010
Published Online:
May 2010
ISBN:
9780195372168
eISBN:
9780199776078
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195372168.003.05
Subject:
Law, Philosophy of Law

This chapter tackles a number of methodological and principled objections to the incorporation of deontological constraints into economic analysis. It discusses the claims that such incorporation ... More


Multi‐Level Modelling and Contingent Valuation

Ian H. Langford and Ian J. Bateman

in Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US, EU , and developing Countries

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248919
eISBN:
9780191595950
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248915.003.0012
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter explores, in an introductory manner, the potential advantages of using multi‐level modelling in a range of contingent valuation (CV) survey designs. Section 12.2 briefly reviews the ... More


The Theory of Weighing Lives

John Broome

in Weighing Lives

Published in print:
2004
Published Online:
October 2005
ISBN:
9780199243761
eISBN:
9780191602900
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019924376X.003.0018
Subject:
Philosophy, Moral Philosophy

This chapter derives the general theory of value that the book has been aiming at. It considers its implications for the value of longevity,and how the theory might be made practical. It reviews some ... More


Add to Cart? Environmental “Amenities” and Cost-Benefit Analysis

Chrisoula Andreou

in The Environment: Philosophy, Science, and Ethics

Published in print:
2012
Published Online:
August 2013
ISBN:
9780262017404
eISBN:
9780262301770
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262017404.003.0011
Subject:
Philosophy, General

This chapter discusses the utility of cost-benefit analysis (CBA) in decision making, specifically environmental decision making. For the purposes of the discussion here, it uses a type of CBA that ... More


Interpreting and estimating the value of ecosystem services

Lawrence H. Goulder and Donald Kennedy

in Natural Capital: Theory and Practice of Mapping Ecosystem Services

Published in print:
2011
Published Online:
December 2013
ISBN:
9780199588992
eISBN:
9780191774638
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199588992.003.0002
Subject:
Biology, Biodiversity / Conservation Biology, Ecology

This chapter examines philosophical bases for ecosystem service value and explores ways of measuring such value. In exploring the philosophical bases of value, it lays out competing approaches and ... More


Why Economics Needs Ethical Theory

John Broome

in Arguments for a Better World: Essays in Honor of Amartya Sen: Volume I: Ethics, Welfare, and Measurement

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199239115
eISBN:
9780191716935
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199239115.003.0002
Subject:
Economics and Finance, Development, Growth, and Environmental

Amartya Sen has worked tirelessly to establish the importance of ethics in economics. This chapter adds a little to his arguments. Whenever economics tries to determine how the economy ought to be ... More


The Economic Value of Environmental Damage

Nick Hanley

in Environmental Damage in International and Comparative Law: Problems of Definition and Valuation

Published in print:
2002
Published Online:
March 2012
ISBN:
9780199255733
eISBN:
9780191698262
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199255733.003.0003
Subject:
Law, Environmental and Energy Law, Comparative Law

This chapter provides an overview of the methods adopted by economists for the quantification of environmental harm. It explores the fundamental concept of utility, as reflected in both use and ... More


Valuation, Justification, and Participation in Contemporary Environmental Policy

Breena Holland

in Allocating the Earth: A Distributional Framework for Protecting Capabilities in Environmental Law and Policy

Published in print:
2014
Published Online:
May 2016
ISBN:
9780199692071
eISBN:
9780191799488
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199692071.003.0002
Subject:
Political Science, Environmental Politics, Political Economy

This chapter problematizes the current economic approach to valuing the environment and justifying environmental protection, highlighting problems that can be addressed by the alternative approach to ... More


Equivalent Income, or How to Value What Has No Price

Marc Fleurbaey and Didier Blanchet

in Beyond GDP: Measuring Welfare and Assessing Sustainability

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199767199
eISBN:
9780199332557
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199767199.003.0005
Subject:
Economics and Finance, Public and Welfare

This chapter examines an approach which involves willingness-to-pay instead of prices and shadow prices. It involves measuring individual well-being by “equivalent income,” also called “money-metric ... More


Still on the Quest for a Unit: Utility Measurement in Wieser, Böhm-Bawerk, Edgeworth, Fisher, and Marshall, 1880–1910

Ivan Moscati

in Measuring Utility: From the Marginal Revolution to Behavioral Economics

Published in print:
2018
Published Online:
December 2018
ISBN:
9780199372768
eISBN:
9780199372805
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780199372768.003.0004
Subject:
Economics and Finance, Microeconomics

Chapter 3 moves to the second generation of marginalists and examines how Friedrich von Wieser, Eugen von Böhm-Bawerk, Francis Ysidro Edgeworth, Irving Fisher, and Alfred Marshall conceived of ... More


Cultural services and non-use values

Kai M. A. Chan, Joshua Goldstein, Terre Satterfield, Neil Hannahs, Kekuewa Kikiloi, Robin Naidoo, Nathan Vadeboncoeur, and Ulalia Woodside

in Natural Capital: Theory and Practice of Mapping Ecosystem Services

Published in print:
2011
Published Online:
December 2013
ISBN:
9780199588992
eISBN:
9780191774638
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199588992.003.0012
Subject:
Biology, Biodiversity / Conservation Biology, Ecology

Cultural ecosystem services and non-use values (e.g., existence value, bequest value, option value) present some of the most compelling reasons for conserving ecosystems. They are also some of the ... More


Benefits from improved health

Jan Abel Olsen

in Principles in Health Economics and Policy

Published in print:
2017
Published Online:
September 2017
ISBN:
9780198794837
eISBN:
9780191836329
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198794837.003.0018
Subject:
Public Health and Epidemiology, Public Health, Epidemiology

This chapter starts with an inquiry into the nature of different outcome measures that are being used in the medical literature, emphasizing an important distinction between incommensurable versus ... More


Is There a Unit of Utility?: Jevons, Menger, and Walras on the Measurability of Utility, 1870–1910

Ivan Moscati

in Measuring Utility: From the Marginal Revolution to Behavioral Economics

Published in print:
2018
Published Online:
December 2018
ISBN:
9780199372768
eISBN:
9780199372805
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780199372768.003.0003
Subject:
Economics and Finance, Microeconomics

Chapter 2 discusses how William Stanley Jevons, Carl Menger, and Léon Walras addressed the issue of the measurability of utility. The three founders of marginal utility theory identified measurement ... More


Estimating the Value of Statistical Life for Children in Metro Manila

Rosalina Palanca-Tan

in Environment and Development Economics: Essays in Honour of Sir Partha Dasgupta

Published in print:
2014
Published Online:
May 2014
ISBN:
9780199677856
eISBN:
9780191757266
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199677856.003.0017
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter estimates the value of a statistical life for children in metropolitan Manila, based on adults’ stated willingness to pay for dengue vaccines. Using a novel approach involving play-like ... More


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