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Topic: Contingent valuation

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Statistical survey

Response bias

Market value

Utility

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Burden of proof

Exxon Valdez oil spill

Prima facie

Antarctica

	Contingent valuation - Wikipedia, the free encyclopedia
		Contingent valuation is a survey-based economic technique for the valuation of non-market resources, typically environmental areas.
		Contingent valuation surveys were first proposed in theory by S.V. Ciriacy-Wantrup (1947) as a method for eliciting market valuation of a non-market good.
		In response to criticisms of contingent valuation surveys, a panel of high profile economists (chaired by Nobel Prize laureates Kenneth Arrow and Robert Solow) was convened under the auspices of the National Oceanic and Atmospheric Administration (NOAA) in 1993.
	en.wikipedia.org /wiki/Contingent_valuation (904 words)

	The Regrettable Necessity of Contingent Valuation
		It is that we have to face the problems that contingent valuation seeks to address even in mundane legal contexts far removed from the grand disputes which turn on the soundness of contingent valuation.
		The differences in that contingent valuation in environment and preservation cases is often used to establish the value of the asset from the ground up.
		The problem with contingent valuation are every bit as insistent in dealing with nuisance actions of various sort where one component to the loss of a given landowner is the loss of aesthetic amenity associated with the site in question.
	culturalpolicy.uchicago.edu /CVMpapers/Epstein.html (8699 words)

	Valuation of Environmental Goods and Services
		Contingent Valuation Method: The name ‘contingent’ valuation is based on the characteristic feature of this method as it works on asking people to state their willingness to pay, contingent on a specific hypothetical scenario and description of the environmental goods and serviced.
		To begin, the evaluator has to define the valuation problem, describing its nature, relevance, implications, etc. It may be borne in mind that relevance and implications of the valuation problem vis-à-vis the population to be surveyed for eliciting their expressed willingness to pay may be important.
		Like the contingent valuation method, it is based on asking people to state their willingness to pay, contingent on a specific hypothetical scenario and description of various environmental goods and serviced of which they have to make a choice.
	www.msu.edu /user/schmid/mishra.htm (6279 words)

	Recent Literature on Contingent Valuation Methods
		Contingent valuation practitioners should seek improvements in respondents' perceptions of the fairness of the valuation process in order to facilitate citizens' involvement in decisions about environmental public goods.
		The paper compares this multiattribute valuation method to contingent valuation surveys, describes the sequence of respondents' tasks, and presents results from a case study comparison of contingent valuation and value- integration survey methods in the context of valuing options for fire control in Oregon's old-growth forests.
		Two contingent valuation surveys illustrate the proposed bounds, and the performances of the variance estimators are scrutinized with a Monte Carlo simulation.
	www.sscnet.ucla.edu /ssc/labs/cameron/nrs98/cvinv.htm (19241 words)

	This Congressional Research Service Report is made available to the public byTHE NATIONAL COUNCIL FOR SCIENCE AND THE ...
		Contingent valuation is a survey technique that is purported to estimate the nonmarket value of the specified goods and services.
		Contingent valuation surveys have been used in numerous settings; three significant examples include: the valuation of air quality improvement at the Grand Canyon; the valuation of damages resulting from the Exxon Valdez oil spill in Alaska; and the valuation of benefits from altering Glen Canyon dam operations.
		Contingent valuation is a survey technique to estimate nonuse values by asking respondents how much they are willing to pay or to accept for a change in the good in a hypothetical market framework.
	www.albany.edu /faculty/rn382/rpos513/CRSContingentValuation.html (9198 words)

	Contingent Valuation: A User's Guide
		Contingent valuation (CV) is a survey-based method frequently used for placing monetary values on environmental goods and services not bought and sold in the marketplace.
		The essence of an economic analysis is to compare all of the benefits of the proposed action to all of the costs (1), with a project said to pass a benefit-cost test if the sum of all the benefits is greater than the sum of all the costs.
		For a pure public good, the economic value of a good is simply the sum of the WTP of all agents in the relevant population, since enjoyment of the good by one agent does not diminish any other agent's enjoyment of it (1).
	pubs.acs.org /cgi-bin/jtextd?esthag/34/8/html/es990728j.html (5106 words)

	OECD Glossary of Statistical Terms - Contingent valuation (Site not responding. Last check: 2007-10-10)
		Contingent valuation refers to the method of valuation used in cost—benefit analysis and environmental accounting.
		It is conditional (contingent) on the construction of hypothetical markets, reflected in expressions of the willingness to pay for potential environmental benefits or for the avoidance of their loss.
		Valuation method where hypothetical situations are presented to a representative sample of the relevant population in order to elicit statements about how much they would be willing to pay for specific environmental services.
	stats.oecd.org /glossary/detail.asp?ID=438 (164 words)

	CRS Report: RL30242 - Natural Resources: Assessing Nonmarket Values Through Contingent Valuation - NLE
		Contingent valuation is a survey method used to estimate the nonuse value of public goods —; generally defined as the value people place on certain goods simply because those goods exist.
		The remainder of the report describes the contingent valuation method survey design, reliability and measurement error, validity and bias, and three empirical critiques.
		However, evidence from two sources — public opinion polls and other contingent valuation studies — indicate that valuation results are fairly stable over time; valuations are also likely to be more stable for a good with which respondents are familiar than for one with which they have little experience.
	www.cnie.org /nle/crsreports/natural/nrgen-24.cfm (9253 words)

	Patty Champ--Economist, Social and Economic Values
		Her interests include validity issues associated with nonmarket valuation methods, survey research issues, allocation mechanisms for recreational opportunities on public lands, and issues associated with institutional arrangements and incentives.
		Measuring the Differences in Mean Willingness to Pay when Dichotomous Choice Contingent Valuation Responses are Not Independent.
		Based on this result we argue that elicitation effects found in contingent valuation studies may not be due the hypothetical nature of the decision making context as has been suggested in previous studies.
	www.fs.fed.us /rm/value/champ.html (494 words)

	Contingent Valuation and Real Referendum Behaviour (SMEALSearch) - (Site not responding. Last check: 2007-10-10)
		This paper compares contingent values for a hypothetical landscape protection programme with respondents' voting behaviour in an actual referendum.
		In particular we examine (i) CVM bid magnitudes of the different voter groups, (ii) relationships between qualitative response categories, (iii) consistency of responses assuming tax increases are known, and (iv) associations with socio-economic characteristics.
		Results suggest a strong upward bias of hypothetical values, possibly indicating that many respondents failed to realistically consider their budget constraints in the hypothetical choice situation.
	smealsearch2.psu.edu /1396.html (236 words)

	Natural Resource Economics; UCLA (Graduate, 1997) Cameron; Contingent Valuation Method
		CV is one of several types of SP approaches, most of which have not been used widely in environmental valuation.
		About how much was the reported cost of the contingent valuation study undertaken for the state of Alaska in support of the plaintiffs in the Exxon Valdez case?
		In this study, respondents are asked to value environmental goods in multiples or fractions of an arbitrarily assigned budgetary unit (e.g.
	www.sscnet.ucla.edu /ssc/labs/cameron/nrs98/nrcvr.htm (2494 words)

	Contingent Valuation/Recreational Values \| NRCS Economics
		That 1962 value was indexed to the 1982 values used in PandG by CPI, and these values should be in-turn be indexed to current values by current CPI.
		This method can be used for insignificant recreational calculations for watershed analysis, but economists should note that the values obtained are highly conservative, averaging perhaps 20% of the current values from actual Recreational Economics studies using other methods.
		It was used as the database for the 2005 study, Updated Outdoor Recreation Use Values on National Forests and Other Public Lands.
	www.economics.nrcs.usda.gov /technical/recreate (971 words)

	SSRN-Irish Public Service Broadcasting: A Contingent Valuation Analysis by Liam Delaney, Francis O'Toole (Site not responding. Last check: 2007-10-10)
		Irish public service broadcasting faces enhanced domestic and international competition and, increasingly the Irish public service broadcaster (RTE) is being called upon to justify the scale of the television licence fee, its major source of funding.
		In analysing the determinants of respondents' willingness to pay for RTE's services, the importance of domestic and international competing services and the relationships between willingness to pay for, usage of, and satisfaction with, RTE's services are analysed.
		In addition, this paper highlights the importance of distinguishing between household, and individual, willingness to pay.
	papers.ssrn.com /sol3/papers.cfm?abstract_id=569822 (235 words)

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