In most urban cities across Australia, water restrictions remain the dominant policymechanism to restrict urban water consumption. The extensive adoption of waterrestrictions over several years means that Australian urban water prices have consistently not reflected the opportunity cost of water...

In 1992 the National Oceanic and Atmospheric Administration (NOAA) convened a panel of prominent social scientists to assess the reliability of natural resource damage estimates derived from contingent valuation (CV). The product of the Panel's deliberations was a report that laid out a set of...

In 1992 the National Oceanic and Atmospheric Administration (NOAA) convened a panel of prominent social scientists to assess the reliability of natural resource damage estimates derived from contingent valuation (CV). The product of the panel's deliberations was a report that laid out a set of...

The assumption of independence of irrelevant alternatives in a sequential contingent valuation format should be questioned. Statistically, most valuation studies treat nonindependence as a consequence of unobserved individual effects. Another approach is to consider an inferentialprocess in...

Most benefit-cost analyses of reductions in air pollutants and other pollutants carrying mortality risks rely on estimates of the value of reductions in such risks produced by compensating wage studies, or contingent valuation studies that value risk reductions in the context of transport or...

The destruction of natural habitats has prompted concerns about the loss of biological diversity. Regrettably, however, there is no consensus among either biologists or economists on the most meaningful measures of biodiversity. Fundamentally different definitions are useful in asking...

The past few years have seen a highly charged debate about whether contingent valuation (CV) surveys can provide valid economic measures of people's values for environmental resources. In an effort to appraise the validity of CV measures of economic value, a distinguished panel of social...

One of the most serious threats to the Baltic Sea and its ecosystem services is human-induced eutrophication. European Union legislation, in the form of the Marine Strategy and Water Framework Directives, requires information on the benefits of improving the condition of the sea to a good...

This paper explores the farmer’s general decision to adopt a clean agricultural production technology and the particular role of pro-social behavior. We hypothesize that pro-social behavior may influence farmers’ individual valuation of clean technologies through two channels, their beliefs...

This paper analyzes the theoretical underpinnings of producers’ willingness to pay (WTP) for novel inputs. In addition to conceptualizing the WTP function for producers, we derive its comparative statics and demonstrate the use of these properties to estimate input quantities demanded, outputs...