Environmental Resource Valuation

Applications of the Contingent Valuation Method in Italy

  • Richard C. Bishop
  • Donato Romano

Part of the Studies in Risk and Uncertainty book series (SIRU, volume 11)

Table of contents

  1. Front Matter
    Pages i-xi
  2. Introduction to CVM in Italy

    1. Front Matter
      Pages 1-1
    2. Richard C. Bishop, Donato Romano
      Pages 3-10
    3. Donato Romano, Laura Viganò
      Pages 11-44
  3. Conceptual Issues

  4. Wildlife Applications

  5. Other Applications

  6. Current Status and Outlook

    1. Front Matter
      Pages 261-261
    2. Richard C. Bishop, Daniel W. McCollum
      Pages 263-278

About this book

Introduction

Economic values are increasingly used in policy analysis and legal settings. With the growing recognition that many of the things that benefit or harm people are outside the market system, have come increasing efforts to develop nonmarket valuation techniques. One such technique is the contingent valuation method (CVM). CVM seeks to value environmental and other nonmarket goods and services by asking individuals about their values using survey methods. These procedures are different from the `revealed-preference' methods that economists have historically employed to estimate economic values.
Why depart from well-established revealed-preference procedures and apply a `stated-preference' method like CVM? For nonmarket goods and services, revealed-preference methods have two shortcomings that those applying CVM hope to avoid. First, revealed-preference methods involve econometric problems that have yet to be fully overcome. The second shortcoming of revealed-preference methods is that such methods, when applied to environmental amenities, are likely to be only partial measures of value.
Given the tremendous interest that exists in economic values and the limitations of revealed-preference methods, it is not surprising that interest in CVM has grown rapidly. Environmental Resource Valuation reviews the application of CVM and compares American experiences in nonmarket evaluation with those in other countries.

Keywords

Conservation Italy consumer econometrics environment evaluation information modeling research science and technology service valuation

Editors and affiliations

  • Richard C. Bishop
    • 1
  • Donato Romano
    • 2
    • 3
  1. 1.Department of Agricultural and Applied EconomicsUniversity of WisconsinMadisonUSA
  2. 2.Department of Agricultural and Forest Economics — DEEAFUniversity of FlorenceItaly
  3. 3.Inter-University Center on Mountain, Hill and Agro-Forest Systems Research — CIRMOCOSAFItaly

Bibliographic information

  • DOI https://doi.org/10.1007/978-1-4615-5741-8
  • Copyright Information Kluwer Academic Publishers 1998
  • Publisher Name Springer, Boston, MA
  • eBook Packages Springer Book Archive
  • Print ISBN 978-1-4613-7630-9
  • Online ISBN 978-1-4615-5741-8
  • Series Print ISSN 0926-972X
  • About this book