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Economic Valuation with Stated Preference Techniques
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Economic Valuation with Stated Preference Techniques

A Manual

9781840649192 Edward Elgar Publishing
Ian J. Bateman, Richard T. Carson, Brett Day, Michael Hanemann, Nick Hanley, Tannis Hett, Michael Jones-Lee, Graham Loomes, Susana Mourato, Ece Özdemiroglu, David Pearce, Robert Sugden and John Swanson
Publication Date: 2002 ISBN: 978 1 84064 919 2 Extent: 480 pp
This manual offers a detailed, up-to-date explanation of how to carry out economic valuation using stated preference techniques. It is relevant for the application of these techniques to all non-market goods and services including air and water quality; provision of public open space; health care that is not sold through private markets; risk reduction policies and investments not provided privately; provision of information as with the recorded heritage, the protection of cultural assets and so on. The resulting valuations can be used for a number of purposes including, but not limited to, demonstrating the importance of a good or service; cost–benefit analysis; setting priorities for environmental policy; design of economic instruments; green national/corporate accounting, and natural resource damage assessment.

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Critical Acclaim
Contents
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This manual offers a detailed, up-to-date explanation of how to carry out economic valuation using stated preference techniques. It is relevant for the application of these techniques to all non-market goods and services including air and water quality; provision of public open space; health care that is not sold through private markets; risk reduction policies and investments not provided privately; provision of information as with the recorded heritage, the protection of cultural assets and so on. The resulting valuations can be used for a number of purposes including, but not limited to, demonstrating the importance of a good or service; cost–benefit analysis; setting priorities for environmental policy; design of economic instruments; green national/corporate accounting, and natural resource damage assessment.

Compiled by the leading experts in the field, this manual starts by explaining the concepts. It shows how to choose the most appropriate technique and how to design the questionnaires. Detailed advice on econometric analysis is provided, as well as explanation of the pitfalls that need to be avoided.
Critical Acclaim
‘Adherence to the principles and wisdom set out in this book will contribute significantly to the rational valuation of non-market benefits and costs.’
– Ken Willis, Journal of Environmental Planning and Management
Contents
Contents: Introduction 1. The Foundations of Economic Valuation 2. Commissioning a Stated Preference Study 3. Population, Sample and Survey Mode 4. Designing a Contingent Valuation Questionnaire 5. Contingent Valuation: Analysing the Results 6. Designing a Choice Modelling Questionnaire 7. Choice Modelling: Analysing the Results 8. Validity and Reliability 9. Aggregation 10. Reporting 11. Combining Revealed and Stated Preference Techniques 12. Cautions, Caveats and Future Directions References Glossary

Full affiliations:
Ian Bateman,Professor of Environmental Economics, School of Environmental Sciences and Senior Research Fellow, Centre for Social and Economic Research on the Global Environment (CSERGE), University of East Anglia and University College London, UK
Richard T. Carson, Professor of Economics, University of California, San Diego, Research Director for International Environmental Policy, UC Institute for Global Conflict and Cooperation and a Senior Fellow, San Diego Supercomputer Center, US
Brett Day, Senior Research Fellow, CSERGE, University of East Anglia, UK
Michael Hanemann, Chancellor’s Professor of Agricultural and Resource Economics and Public Policy, University of California at Berkeley, US
Nick Hanley, Professor of Environmental Economics, University of Glasgow, UK
Tannis Hett, worked as a Consultant for Economics for the Environment Consultancy Ltd (EFTEC), UK. She is currently an Independent Environmental Economics Consultant based in Canada
Michael Jones-Lee, Professor of Economics, University of Newcastle-upon-Tyne, UK
Graham Loomes, Professor of Economic Behaviour and Decision Theory, University of East Anglia, UK
Susana Mourato, Lecturer in Environmental Economics, Department of Environmental Science and Technology, Imperial College of Science, Technology and Medicine, London, UK
Ece Özdemiroglu, Director, Economics for the Environment Consultancy Ltd (EFTEC), UK
David W. Pearce, OBE, Professor of Environmental Economics, University College London and Honorary Professor, Department of Environmental Science and Technology, Imperial College London, UK
Robert Sugden, holds the Leverhulme Personal Research Professorship in Economics, Department of Economics, University of East Anglia, UK
John Swanson, Steer Davis Gleave, an Independent Transport Planning Consultancy based in London, UK
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