9781843768524

Economic Valuation with Stated Preference Techniques : A Manual

by ; ; ; ; ; ;
  • ISBN13:

    9781843768524

  • ISBN10:

    1843768526

  • Format: Paperback
  • Copyright: 2004-05-01
  • Publisher: Edward Elgar Pub

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Table of Contents

List of figures ix
List of tables xi
List of boxes xiii
The authors xv
List of acronyms xvii
Foreword xix
INTRODUCTION 1(12)
Purpose of this manual
1(1)
Justification for assigning economic values to non-market effects
2(4)
A guide to the manual
6(7)
PART I: CONCEPTS
1. The foundations of economic valuation
13(48)
1.1 The uses of economic valuation
13(3)
1.2 The nature of economic valuation and economic efficiency
16(2)
1.3 Economic valuation and other values
18(2)
1.4 Economic valuation when there are no markets
20(2)
1.5 Economic valuation and the demand curve
22(2)
1.6 Willingness to pay and willingness to accept
24(4)
1.7 Total economic value and aggregation
28(10)
1.8 Stated preferences and public participation
38(4)
ANNEX 1.1 Benefits transfer and stated preference techniques
42(10)
ANNEX 1.2 Use of stated preference in UK environmental policy: the case of the aggregates levy
52(3)
ANNEX 1.3 Discounting
55(6)
2. Commissioning a stated preference study
61(28)
2.1 Defining the context
62(3)
2.2 Is economic valuation necessary and credible?
65(9)
2.3 Choosing between economic valuation techniques
74(4)
2.4 Commissioning a valuation study: a checklist
78(6)
2.5 A typical workplan for a stated preference study
84(5)
PART II: STATED PREFERENCE TECHNIQUES
3. Population, sample and survey mode
89(23)
3.1 Defining the target population
89(4)
3.2 The need for and the importance of sampling
93(1)
3.3 The sampling frame
94(2)
3.4 Choosing the sample
96(5)
3.5 Choosing the survey mode
101(6)
3.6 Choosing the sample size
107(5)
4. Designing a contingent valuation questionnaire
112(61)
4.1 Useful lessons from other disciplines
113(3)
4.2 The stages of designing a contingent valuation questionnaire
116(35)
4.3 Pre-testing
151(5)
4.4 The main survey
156(1)
ANNEX 4.1 Writing survey questions
157(16)
5. Analysis of contingent valuation data
173(75)
5.1 Contingent valuation data sets
174(8)
5.2 Specification of the bid function
182(9)
5.3 Estimating mean and median WTP
191(4)
5.4 Models. for testing the validity of WTP values
195(1)
5.5 Models for benefits transfer exercises
196(1)
5.6 Conclusions
197(2)
ANNEX 5.1 Econometric estimation of the bid function
199(25)
ANNEX 5.2 Estimating mean and median WTP
224(24)
6. Designing a choice modelling questionnaire
248(29)
6.1 What is choice modelling?
249(1)
6.2 Main choice modelling approaches
250(8)
6.3 Common design stages
258(11)
6.4 Advantages and disadvantages of choice modelling relative to other economic valuation techniques
269(8)
7. Analysis of choice modelling data
277(19)
7.1 Choice experiments
278(11)
7.2 Contingent ranking
289(1)
7.3 Contingent rating
290(4)
7.4 Paired comparison
294(2)
8. Validity and reliability
296(47)
8.1 Preferences, values and validity
297(1)
8.2 Responses to survey questions: some basic issues
298(2)
8.3 Value types and their consistency with economic theory
300(4)
8.4 Overview of the validity problem and types of validity testing
304(1)
8.5 Content validity
305(8)
8.6 Construct validity
313(21)
8.7 Reliability
334(2)
8.8 Summary of factors relevant to determining validity and reliability
336(7)
9. Aggregation
343(16)
9.1 Conditions for valid aggregation
344(3)
9.2 Aggregation approaches
347(12)
10. Reporting
359(8)
10.1 Objectives
359(1)
10.2 Methodology
360(1)
10.3 Literature review
360(1)
10.4 Population and sampling strategy
360(1)
10.5 Questionnaire design and implementation
361(1)
10.6 Results
362(1)
10.7 Validity testing
363(1)
10.8 Aggregation and implications
363(1)
10.9 Annexes
364(3)
PART III: FURTHER ISSUES
11. Combining revealed and stated preference techniques
367(11)
11.1 Why combine revealed and stated preference techniques
367(1)
11.2 Random utility models combining stated preference and revealed preference data
368(1)
11.3 Contingent behaviour panel data models of price changes
369(2)
11.4 Contingent behaviour models of environmental quality changes
371(3)
11.5 Conclusions
374(2)
ANNEX 11.1 Random utility models combining stated preference and revealed preference data
376(2)
12. Cautions, caveats and future directions
378(27)
12.1 The standard neo-classical model of preferences
378(2)
12.2 Elicitation and response mode effects
380(5)
12.3 The disparity between WTP and WTA
385(7)
12.4 Scope, embedding and sequencing effects
392(6)
12.5 'Other-regarding' issues: altruism and reciprocity
398(4)
12.6 Conclusions
402(3)
Bibliography 405(29)
Glossary 434(11)
Index 445

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