Recent work by Kahneman and others has led to a new focus in economics on a wellbeing-based approach to utility. This suggests that ‘experienced utility' is an alternative and more appropriate basis for the measurement of economic value compared with ‘decision utility'. In this paper, we...

A range of empirical approaches to representing preference heterogeneity have emerged in choice modelling. Researchers have been able to explore the differences which selection of a particular approach makes to welfare measures in a particular dataset, and indeed have been able to implement a...

A range of empirical approaches to representing preference heterogeneity have emerged in choice modelling. Researchers have been able to explore the differences which selection of a particular approach makes to welfare measures in a particular dataset, and indeed have been able to implement a...

The impact of the approach used to describe preference heterogeneity on welfare measures has been widely studied by the academic community. However, the question as to the degree of error in welfare estimation from an inappropriate choice of empirical approach has not been addressed yet. In this...

The agenda towards greenhouse gas mitigation within agriculture implies changes in farm management practices. Based on a survey of Scottish dairy farmers, this study investigates farmers' perceptions of how different GHG mitigation practices affect the economic and environmental performance of...

The Water Framework Directive sets an objective of 'Good Ecological Status' for water bodies across the EU. Non-point pollution from agriculture is a major reason for the failure of rivers in the UK to meet this target. In this paper, we use choice experiment methodology to test the...

Gains from the incorporation of monetary values for changes in environmental goods and services within cost-benefit analysis depend on how well researchers can estimate these values. One key problem in both stated and revealed preference approaches is how best to model preference heterogeneity....

Establecer y valorar los impactos marginales de la olivicultura ecologica despues de la aplicacion de la condicionalidad, supone una importante herramienta para determinar, en un futuro, posibiles pagos a los agricultores por el caracter multifuncional de este sistema productivo. Por ello, en el...

Choice experiments have become an important tool to provide guidance about the value of environmental goods and services. Several evidences, however, are pointing toward an important mismatch between the rationality principles assumed by this methodology and real respondents’ behaviour,...