Abstract
When dealing with the ecological, social and economic impacts of climate change, it is important for each country to formulate and implement mitigation and adaptation measures. In this context, the present paper examines the application of the contingent valuation method (CVM) for the monetary estimation of the Greek national mitigation and adaptation climate change costs. To this purpose, the CVM in this case study has been applied to the Greek climate change experts only as, theoretically, they represent the most informed part of Greek society in technical and economic aspects of the climate change. Therefore, the findings of this paper express strictly the opinions of the national experts and are not representative of the general population. The monetary estimates include the experts’ WTP for mitigation and adaptation measures as well as their preferences on that percentage of the national GDP that should be funding such measures at the present as well as the future time-scale. In addition, questions concerning the political and institutional climate change settings are included in the survey, providing a more comprehensive socioeconomic analysis in this particular study.
Similar content being viewed by others
References
Bateman, I. J., Carson, R. T., Day, B., Hanemann, M., Hanley, N., Hett, T., et al. (2002). Economic valuation with stated preference techniques. Cheltenham: Edward Elgar.
Berrens, R. P., Bohara, A. K., Jenkins-Smith, H. C., Silva, C. L., & Weimer, D. L. (2004). Information and effort in contingent valuation surveys: Application to global climate change using national internet samples. Journal of Environmental Economics and Management, 47, 331–363.
Boyle, K. J., Welsh, M. P., Bishop, R. C., & Baumgartner, R. M. (1995). Validating contingent valuation with surveys of experts. Agricultural and Resource Economics Review, 24, 247–254.
Cameron, T. (2004). Individual option prices for climate change mitigation. Journal of Public Economics, 89(2005), 283–301. (Elsevier).
Carson, R. T., Flores, N. E., & Meade, N. F. (2001). Contingent valuation: Controversies and evidence. Environmental & Resource Economics, 19, 173–210.
Cummings, R. G., Brookshire, D. S., & Schulze, W. D. (1986). Valuing environmental goods: An assessment of the contingent valuation method. Totowa: Rowman and Allanheld.
Dasgupta, P. (2007). Commentary: The Stern Review’s economics of climate change. National Institute Economic Review, 199, 4–7.
Fleischer, A., & Sternberg, M. (2005). The economic impact of global climate change on Mediterranean rangeland ecosystems: A space-for-time approach. Ecological Economics, 59, 287–295. (Elsevier).
Hoevenagel, R. (1994). The contingent valuation method: Scope and validity. Amsterdam: Vrije University.
CC, I. P. (2007). Fourth assessment report, intergovernmental panel on climate change. Cambridge: Cambridge University Press.
Kolstad, C., & Toman, M. (2005). The economics of climate policy. In K.-G. Mäler & J. R. Vincent (Eds.), Handbook of environmental economics (Vol. 3). Amsterdam: Elsevier.
Layton, D. F., & Gardner, B. (2000). Heterogeneous preferences regarding global climate change. Review of Economics and Statistics, 82, 616–624.
Neumayer, E. (2007). A missed opportunity: The Stern Review on climate change fails to tackle the issue of non-substitutable loss of natural capital. Global Environmental Change, 17(3–4), 297–301.
Nordhaus, W. D. (2008). A review of the Stern Review on the economics of climate change. Journal of Economic Literature, 45(3), 686–702.
Oates, W. E. (1983). The regulation of externalities: Efficient behavior by sources and victims. Public Finance, 3, 362–375.
Pendleton, L. H., & Mendelsohn, R. (1998). Estimating the economic impact of climate change on the freshwater sportsfisheries of the northeastern U.S. Land Economics, 74, 483–496.
Spash, C. (2007). The economics of climate change impacts ΰ la Stern: Novel and nuanced or rhetorically restricted? Ecological Economics, 63(4), 706–713.
Stern, N. (2007). The economics of climate change: The Stern review. Cambridge: Cambridge University Press.
Sterner, T., & Persson, U. M. (2007). An even Sterner Review: Introducing relative prices into the discounting debate. Discussion paper 07–37, Resources for the Future, Washington, DC.
Tobey, J. (1992). Economic issues in global climate change. Global Environmental Change, 2, 215–228. (Butterworth-Heinemann).
Vatn, A., & Bromley, D. (1995). Choices without prices without apologies. In D. W. Bromley (Ed.), Handbook of environmental economics. Cambridge, Massachusetts: Blackwell Publishers.
Weitzman, M. L. (2008). A review of the Stern Review on the economics of climate change. Journal of Economic Literature, 45(3), 703–724.
Author information
Authors and Affiliations
Corresponding author
Additional information
Readers should send their comments on this paper to BhaskarNath@aol.com within 3 months of publication of this issue.
Rights and permissions
About this article
Cite this article
Markantonis, V., Bithas, K. The application of the contingent valuation method in estimating the climate change mitigation and adaptation policies in Greece. An expert-based approach. Environ Dev Sustain 12, 807–824 (2010). https://doi.org/10.1007/s10668-009-9225-0
Received:
Accepted:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s10668-009-9225-0