This book documents a contingent valuation study for a significant environmental good: preventing the likely injuries from oil spills on the coast of Central California. It functions as a 'how-to' guide by documenting design, administration, and analysis of such studies, to reduce the long lead time which characterizes most economic damage assessments. The book includes a CD-ROM containing a wealth of additional material: data, questionnaires, transcripts and more.

Valuing Oil Spill Prevention: A Case Study of California's Central Coast

Business & Money

Carson, Richard T.

Presser, Stanley

Krosnick, Jon A.

Conaway, Michael B.

Hanemann, W. Michael

Mitchell, Robert C.

Economics

Springer

Economists and others have long believed that by balancing the costs of such public goods as air quality and wilderness areas against their benefits, informed policy choices can be made. But the problem of putting a dollar value on cleaner air or water and other goods not sold in the marketplace has been a major stumbling block. Mitchell and Carson, for reasons presented in this book, argue that at this time the contingent valuation (CV) method offers the most promising approach for determining public willingness to pay for many public goods---an approach likely to succeed, if used carefully, where other methods may fail. The result of ten years of research by the authors aimed at assessing how surveys might best be used to value public goods validly and reliably, this book makes a major contribution to what constitutes best practice in CV surveys. Mitchell and Carson begin by introducing the contingent valuation method, describing how it works and the nature of the benefits it can be used to measure, comparing it to other methods for measuring benefits, and examining the data-gathering technique on which it is based---survey research. Placing contingent valuation in the larger context of welfare theory, the authors examine how the CV method impels a deeper understanding of willingness-to-pay versus willingness-to-accept compensation measures, the possibility of existence values for public goods, the role of uncertainty in benefit valuation, and the question of whether a consumer goods market or a political goods market (referenda) should be emulated. In developing a CV methodology, the authors deal with issues of broader significance to survey research. Their model of respondent error is relevant to current efforts to frame a theory of response behavior and bias typology will interest those considering the cognitive aspects of answering survey questions. Mitchell and Carson conclude that the contingent valuation method can obtain valid valuation information on public goods, but only if the method is applied in a way that addresses the potential sources of error and bias. They end their book by providing guidelines for CV practitioners, a list of questions that should be asked by any decision maker who wishes to use the findings of a CV study, and suggestions for new applications of contingent valuation. Additional features include a comprehensive bibliography of the CV literature and an appendix summarizing more than 100 CV studies.

Using Surveys to Value Public Goods: The Contingent Valuation Method (McGraw-Hill Series in Industrial)

Mitchell, Robert Cameron

RFF Press

This major reference work - the first of its kind - provides a comprehensive and authoritative introduction to the large and growing literature on contingent valuation. It includes annotated entries on over 7,500 contingent valuation papers and studies from over 130 countries covering both the published and gray literatures. This book provides an interpretive historical account of the development of contingent valuation, the most commonly used approach to placing a value on goods not normally sold in the marketplace. The major fields cataloged here include culture, the environment, and health applications. This bibliography is an ideal starting point for researchers wanting to find other studies that have valued goods or used techniques similar to those they are interested in. For those wanting to conduct meta analyses, the book will serve as an invaluable guide to source material. In addition to the print edition we offer access, for purchasers of the book, to a website providing the contents of as a searchable Word document and in a variety of standard bibliographic database forms. Contingent Valuation is an indispensable reference source for researchers, scholars and policy makers concerned with survey approaches to the problem of environmental valuation.

Contingent Valuation: A Comprehensive Bibliography and History

Edward Elgar Publishing

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.

Economic Valuation with Stated Preference Techniques: A Manual (In Association With the Dtlr and Defra)

Hanley, Nick

Bateman, Ian J.

Loomes, Graham

Day, Brett

Hanemann, Michael

Hett, Tannis

Jones-Lee, Michael

This manual, now available in paperback, 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.

Economic Valuation with Stated Preference Techniques: A Manual (In Association With the Uk Department for Transport)

Valuing Oil Spill Prevention: A Case Study of California’s Central Coast (The Economics of Non-Market Goods and Resources)

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