The paper focuses on the ongoing debate on non-market valuation, including the valuation environmental goods, and the opportunity to use contingent valuation for policy guidance. In fact, contingent valuation critics argue that reported willingness to pay answers do not reflect real economic...

This paper examines factors that may influence the estimates of the Value of a Statistical Life obtained from contingent valuation surveys that elicit the willingness to pay (WTP) for mortality risk reductions. We examine the importance of distributional assumptions, the choice of the welfare...

Utilizing the random utility and random profit difference approaches, we develop a theoretical model that explains why farmers may require a premium in excess of the decrease in profits to adopt a conservation plan. Identification of this risk premium can aid the government in addressing...

The purpose of this study is to check the monetary value of the recreational use of Irish forests using two different valuation methods on the one dataset - the Travel Cost Method and the Contingent Valuation Technique - and in doing so test convergent validity, i.e. whether they are consistent...