Hanley, Nick; Spash, Clive; Walker, Lorna - In: Environmental & Resource Economics 5 (1995) 3, pp. 249-272
lexicographic preferences; consider the implications of having poorly-informed consumers; and then report the results of a …, the less is cost-benefit analysis validated as a means of decision making for biodiversity protection, since lexicographic … preferences are incompatible with the Kaldor-Hicks Compensation Test. Secondly, people may be poorly informed about the meaning of …