Constructing markets: environmental economics and the contingent valuation controversy Report as inadecuate




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Abstract

As economists took up the task of measuring the -demand- for environmental services not traded in markets, some chose to substituted survey-based methods known as contingent valuation CV. Doing so, they could not help but find themselves in the uncomfortable position of self-evidently constructing their observations rather than merely observing them. Apparent anomalies between the constructs and the predictions for economic man led to a fierce debate over the merits of contingent valuation-a debate that hinged on the question of whether economic theory was being -applied- or -tested.-



Item Type: MPRA Paper -

Original Title: Constructing markets: environmental economics and the contingent valuation controversy-

Language: English-

Keywords: Contingent Valuation, Stated Preference, History, Environmental Economics-

Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925C - Mathematical and Quantitative Methods > C9 - Design of ExperimentsD - Microeconomics > D6 - Welfare EconomicsQ - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5 - Environmental Economics-





Author: Banzhaf, H. Spencer

Source: https://mpra.ub.uni-muenchen.de/78814/







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