Designers of stated preference studies have placed an emphasis in recent years on ensuring that questionnaires are defensible, and that all ‘hypothetical’ elements are removed. A potential problem with this emphasis is that it can unwittingly increase the hypothetical nature of the survey as...

Choice modelling is increasingly being used to generate estimates of the value of changes in environmental quality. This is partly because of the informational efficiencies of the technique, but also because of concern about the accuracy of contingent valuation. Experimental evidence has,...

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

Issues concerning the long-term environmental and health risks associated with the production of genetically modified foods remain highly topical in Australia. It is unclear how consumers values for a precautionary approach to the release of genetically modified crops compares to the opportunity...

This paper presents analysis of the decision-making strategies adopted by respondents when confronted with potential policy options that include changes in both aggregate levels of welfare and equity in distribution. The analysis is based on the results of a choice experiment designed to...

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

This paper revisits two conventional beliefs of environmental nonmarket valuation and examines their weaknesses and a new opportunity. The two beliefs are that willingness to pay (WTP) is an appropriate measure of non-market behaviour and that exogenous variables are relevant predictors of WTP...

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...

The fundamental assumption of the contingent valuation method (CYM) is that responses to CY questionnaires may be interpreted as expressions of consumer preferences. The consumer preference interpretation has been challenged in recent papers arguing that willingness to pay for wildlife...