Drupp, Moritz A.; Meya, Jasper; Bos, Björn; Disque, Simon - 2024
We study the heterogeneity of preferences regarding the limited substitutability of environmental public goods vis …-a-vis private consumption goods and how it affects the economic valuation of environmental public goods. We show theoretically that … mean marginal willingness to pay for an environmental public good decreases in society’s mean substitutability preference …