Coherent arbitrariness: On value uncertainty for environmental goods

N. Hanley, B. Kriström, J.F. Shogren

    Research output: Contribution to journalArticlepeer-review

    64 Citations (Scopus)

    Abstract

    This paper investigates the idea that people are unsure about the value they place on prospective changes in environmental goods. In particular, we focus on a parametric explanation of the determinants of a "value gap," the difference between the most someone is sure they would pay for an increase in an environmental good, and the smallest amount they are sure they would not pay. We also present a simple means of calculating aggregate willingness to pay from data on the range of willingness to pay expressed via a payment ladder
    Original languageEnglish
    Pages (from-to)41-50
    Number of pages10
    JournalLand Economics
    Volume85
    Issue number1
    DOIs
    Publication statusPublished - 1 Jan 2009

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