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Rationality Concepts in Environmental Valuation

Inglese · Tascabile

Descrizione

Ulteriori informazioni

Survey based valuation techniques like the Contingent Valuation Method (CVM) rely particularly on the premise of respondents' rationality when answering willingness to pay (WTP) questions. Results of CVM surveys have repeatedly put this fundamental assumption into question. This study adopts a more realistic view of rationality accounting for respondents' limited capacities to process information. Based on cognitive psychology a technique to detect and analyze the bounds of rationality inherent in WTP statements is developed. Using an empirical example, the influence of bounded rationality on the validity of CVM results is analyzed. It is shown that individual differences in information processing play a major role. From these results recommendations for future survey design are developed.

Sommario

Contents: Theory and practice of environmental valuation - Rationality in economics - Rationality problems in environmental valuation - Bounded rationality and cognitive psychology - Empirical instruments for analyzing bounded rationality in Contingent Valuation studies - An empirical example from Northern Thailand - Recommendations for CVM survey design.

Info autore

The Author: Oliver Frör; 1998 Degree of a Diplom-Geoökologe, University of Bayreuth; 2000 M.A. in Economics, State University of New York at Albany, NY; 2000-2001 Consultant at the New York State Department of Economic Development; 2001 Adjunct faculty at Siena College in Loudonville, NY; since 2001 Scientific Assistant at the Department of Economics, especially Environmental Economics, Regulatory and Consumer Policy at the University of Hohenheim; 2007 Doctoral degree.

Dettagli sul prodotto

Autori Oliver Frör
Editore Peter Lang
 
Lingue Inglese
Formato Tascabile
Pubblicazione 31.08.2016
 
EAN 9783631573365
ISBN 978-3-631-57336-5
Pagine 244
Dimensioni 148 mm x 14 mm x 210 mm
Peso 350 g
Serie Hohenheimer Volkswirtschaftliche Schriften
Hohenheimer volkswirtschaftliche Schriften
Categoria Scienze sociali, diritto, economia > Economia > Economia politica

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