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Reliability and Validity of Nonmarket Valuation Approaches

In terms of the environment, public goods include such things as spectacular views, ecosystem protection, and species preservation. Efficient provision public goods relies on reliable and valid assessments of the value that people place on those goods. Established markets provide at best only rough indications of such values, which has led to the development of stated preference valuation methods. The studies reported in the following papers were performed to help improve stated preference methods for estimating the values of public goods.

Selected Publications

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  • Duffield, J.W., C.J. Neher, D.A. Patterson, and P.A. Champ. 2005. “Replication of a Cash and Contingent Valuation Experiment”. Proceedings from 2005 Western Regional Research Project W-1133: Benefits and Costs in Natural Resource Planning, Salt Lake City, UT.
  • Champ, P.A., and R.C. Bishop. 2001. “Donation Mechanisms and Contingent Valuation: An Empirical Study of Hypothetical Bias.” Environmental and Resource Economics 19:383-402.
  • Gregory, Robin, Thomas C. Brown, and Jack L. Knetsch. 1996. Valuing Risks to the Environment. Annals of the American Academy of Political and Social Science 545(May):54-63.
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