Contingent valuation is a survey-based procedure that attempts to estimate how much households are willing to pay for specific programs that improve the environment or prevent environmental degradation. For decades, the method has been the center of debate regarding its reliability: does it really measure the value that people place on environmental changes? Bringing together leading voices in the field, this timely book tells a unified story about the interrelated features of contingent valuation and how those features affect its reliability. Through empirical analysis and review of past studies, the authors identify important deficiencies in the procedure, raising questions about the technique’s continued use.
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A Comprehensive Critique
Edited by Daniel McFadden and Kenneth Train
The dynamism of science has been catalytic for human prosperity in recent history. Conventional perspectives of the ivory tower model of modern science are, however, rivalled by the failure of humanity to tackle global crises of an economic, environmental and social nature. Operational solutions to these pressures have grown and exposed pitfalls of modern science to date. Sustainability Science for Strong Sustainability investigates core concepts, tools and institutional strategies of transdisciplinary sustainability science. Prominent research programs within heterodox economics, the environmental sciences and transition theory are explored through diverse case studies, revealing challenges and advancements for transdisciplinary research. In this book, the reform of modern science is facilitated by the consideration of action points to overcome the institutional barriers of putting sustainability science into practice. Researchers, students and policy practitioners will benefit from up to date knowledge on the practice of transdisciplinary research for sustainability.