Economic Valuation with Stated Preference Techniques

Economic Valuation with Stated Preference Techniques

A Manual

Ian J. Bateman, Richard T. Carson, Brett Day, Michael Hanemann, Nick Hanley, Tannis Hett, Michael Jones-Lee and Graham Loomes

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.

Chapter 12: Cautions, caveats and future directions

Ian J. Bateman, Richard T. Carson, Brett Day, Michael Hanemann, Nick Hanley, Tannis Hett, Michael Jones-Lee and Graham Loomes

Subjects: economics and finance, environmental economics, valuation, environment, environmental economics, valuation

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