Estimates of environmental values are frequently required as inputs to cost‐benefit analyses when evaluating alternative options for managing natural resources. One strategy to avoid the high cost of conducting empirical work when non‐market values are involved is to use value estimates from...

Welfare economics is often employed to measure the impact of economic policies or externalities. When demand is characterized by discrete choices, static models of consumer demand are employed for this type of analysis because of the difficulty in estimating dynamic discrete choice models. In...

Estimates of the compensating surplus generated by changes in non-marketed environmental amenities can be estimated using stated preference valuation techniques. These are typically framed in terms of WTP tradeoffs, even if the situation of interest involves a property right vestment that calls...

Choice Experiments (CE) are increasingly used to estimate the values of environmental goods andservices. CE questionnaires represent the environmental good under valuation by varying levels ofnon-market attributes. Inclusion of a cost attribute enables the estimation of monetary values...

The incentives that motivate respondents to reveal their preferences truthfully havebeen a long-standing area of research in the non-market valuation literature. Anumber of studies have been undertaken to investigate incentive compatibility in nonmarketvaluation. Most of these used laboratory...

According to neoclassical economic theory, the only stated preferenceelicitation format that can feasibly be employed in field studies to which truthful responsecan be the dominant strategy for all respondents is a single binary choice between thestatus quo and one alternative. In studies where...

An elicitation format prevalently applied in DCE is to offer each respondent a sequenceof choice tasks containing more than two choice options. However, empirical evidenceindicates that repeated choice tasks influence choice behavior through institutionallearning, fatigue, value learning, and...

Wetland ecosystems on privately owned farms – such as those on the Murrumbidgee River Floodplain in the state of New South Wales, Australia – provide a mix of potentially valuable outputs to their owners and the wider community. The mix of values generated is dependent on the biophysical...

There is a growing body of evidence in the non-market valuation literaturesuggesting that responses to a sequence of discrete choice questions tend to violate theassumptions typically made by analysts regarding independence of responses andstability of preferences. Decision processes (or...

Integrated catchment policies are widely used to manage natural resources in Australian catchments.Decision support tools available to aid integrated catchment management are often limited in theirintegration of environmental processes with socio-economic systems. Fully integrated models...