Contingent Valuation of Environmental Resources. Methodological Issues and Research Needs - David J. Bjornstad;James R. Kahn

This major new book contains a collection of papers that examine the current state-of-the-art in the valuation of environmental resources. In particular, they assess the meaningfulness of environmental resource values obtained through the contingent valuation method. An internationally prominent group of scholars develops a fuller understanding of the strengths and weaknesses of the methodology and discusses a research agenda to improve estimates of environmental resource values. Economic value and the ability to obtain it through the survey measurement of consumer preferences is central to their discussion. Issues covered include the need for a broad perspective in valuation research, support for replication studies, the relationship between survey structure and survey responses, the processes by which environmental resources affect individual well-being, specific issues regarding environmental goods in surveys, and better tests of internal and external validity.

The current state-of-the-art is outlined in a series of core papers and then debated in discussion papers. This major book describes how practitioners, critics, and users of contingent valuation have framed the fundamental issues that must be solved if the approach is to gain wider acceptance.

This major new book contains a collection of papers that examine the current state-of-the-art in the valuation of environmental resources. In particular, they assess the meaningfulness of environmental resource values obtained through the contingent valuation method.