This paper analyzes what can be learned about the value of a statistical life (VSL) using the hedonic wage model. The time series variation of cross sectional estimates, along with the endogeneity of risk choices and the absence of adequate instruments recommends moving to panel data analysis....

The standard literature on the value of life relies on Yaari’s (1965) model, which includes an implicit assumption of risk neutrality with respect to life duration. To overpass this limitation, we extend the theory to a simple variety of nonadditively separable preferences. The enlargement we...

We conduct a field valuation experiment where we vary the valuation method (contingent valuation vs. inferred valuation) as well as the payment format (dichotomous choice vs. payment card). Willingness-to-accept and willingness-to-pay valuations are elicited in a within-subjects design for foods...

This paper considers the nature of preferences for the preservation of biodiversity, and the extent to which individuals are well-informed about biodiversity. We present evidence that the elicitation of monetary bids to pay for biodiversity preservation, as required for cost-benefit analysis,...

The objective of this study is to examine famers' willingness to pay for an index based microinsurance scheme (IBMS) for paddy crops to protect against production loss caused by natural disasters in Sri Lanka and to assess product preferences for this IBMS. The contingent valuation method (CV)...

In multiple bounded discrete choice (MBDC) surveys, respondents indicate how certain they would be to vote in favor of a policy at different prices by choosing, for example, among “definitely yes”, “probably yes”, “not sure”, “probably no”, and “definitely no” response...

Marine and coastal ecosystems are of high importance owing to the mankind dependence on the goods and services provided. As water quality is one perspective of healthy marine and coastal ecosystems, the aim of this study is to review as more as possible surveys conducted worldwide and in Greece....

This research advances the understanding of people’s attitude towards water resources valuation. Specifically, it aims to improve confidence in the interpretation of people’s willingness to pay (WTP) for water resources protection by enhancing understanding of value relationships. Primary...

This study examines the current and potential economic value of an artificial lake aiming to explore the factors that affect people’s willingness to pay (WTP) for its protection. The WTP was derived from a face-to-face survey of 564 residents and recreational users of the Plastira’s lake,...

Wetlands are a crucial component of water resources, providing several ecological functions and services, including flood attenuation, groundwater recharge and water quality maintenance, as well as conservation of biodiversity and provision of recreational activities. In Cyprus, an arid country...