Nonmarket Resources Research Articles

Evaluating Willingness to Sell Vegetation in the White Volta Basin in Northern Ghana

Concepts of ecosystem services have been developed to make explicit connections between human welfare and ecological sustainability for policy, development, and conservation initiatives. Economic concepts such as the distinction between prices and values, and the acknowledgment of their values are context-specific which may change across space and time. Contingent valuation is a survey-based economic technique for valuing non-market resources, such as vegetation. This method is often used to establish the amount people are willing to be compensated for maintaining the existence of an environmental feature such as a tree, shrub, or grass. The level of importance attached to provisioning services as well as cultural services and cultural heritage differ in the rural communities hence different cash values attached. It is often perceived that rural community members do not put monetary value on vegetation, the study is therefore aimed at establishing monetary value rural communities have value for vegetation. The study was conducted in two irrigated and two unirrigated landscapes consisting of about 54 communities and comprising 240 respondents. Participatory Rural Appraisal tools were used. Random Utility Theory was applied and used for the analysis. The willingness to sell vegetation was significant at a 5% confidence level concerning native, sex, age, education, and household head. Marital status was, however, not significant in all the landscapes. The price trend is observed to be across a landscape, from the catchment to the downstream ecosystem.

Business Group’s Performance: Market and Non-Market Measures in Pakistan

This study examines the influence of market and non-market strategies on the financial performance of firms affiliated with business groups. The study analyzed 136 non-financial firms affiliated with business groups, listed on the Pakistan Stock Exchange for the period 2010 to 2020. Market strategies focused on firm related resources diversification, financial constraints and internal capital generation rate. Whereas, non-market strategies focused on political connections and corporate social responsibility. Using fixed effect panel regression model, we found that for business-group firms, both market and non-market strategies significantly increase financial performance. Diversification, financial constraints and internal capital generation drive market success, while political connections and strong corporate social responsibility contribute through non-market measures. This suggested that business group affiliated firms should carefully choose a mix of market and non-market resources for optimal performance. This is also suggested that regulatory authorities shall introduce such policies that smoothen the business operations and encourage managers of affiliated firms to employ more combinations of market and non-market resources to get competitive advantage and promote responsible business practices within the groups.

Disabilities, functionings and capabilities: the capability approach in accessible tourism

ABSTRACT In this conceptual paper, through the introduction of Sen’s capability approach we seek to make a significant contribution to accessible tourism research. The capability approach offers a flexible yet sophisticated theoretical framework to evaluate individuals’ achieved wellbeing and wellbeing opportunities. Drawing on the concepts of functionings and capabilities we show the conceptual leaps that can be made when prominence is given to the diversity and agency of persons with disabilities in translating the opportunity to travel (capability) to the act of travelling (functioning). The capability approach can help build a more complete understanding of what either enables or hampers travel for persons with disabilities and we identify three relevant areas for accessible tourism research – non-market resources and conversion factors, individuals’ agency and choices, and policies and interdisciplinary work. We see persons with disabilities as active in exercising their choices and agency and highlight how the capability approach can enable researchers to see and undo existing dominant ableist discourse through more interdisciplinary inquiries. The capability approach helps accessible tourism scholars broaden their horizons and develop more comprehensive understanding of how tourism can help a person to lead a life they value regardless of their disability.

An estimate of the value of the beachfront with respect to the hotel room rates in Thailand

An economic assessment for a non-market resource like sandy beaches is always a challenge for Thailand's coastal policy planners due to the lack of data availability, especially on the national scale. While beach tourism in Thailand has been an essential part of the Thai economy, the sandy beaches are probably exposed to the future sea-level rise. Therefore, the need for tourism benefits of the beaches should be conducted. The research attempted to measure the effect of sandy beach characteristics and hotel location on hotel room rates. A sample of 3319 hotel rooms across Thailand's coastal sub-districts, covering the entire sandy beaches in Thailand, was collected through a hotel-booking online database during the country's peak season. The considered variables include hotel room attributes, sandy beach characteristics, hotel locations, and coastal infrastructures. Through a hedonic price model based on geographically weighted regression analysis, the relationship between the dependent variables (hotel room rate) and the independent variables (selected beach variable) was estimated to evaluate the marginal effect and its spatial variations. The tourism benefit was calculated assuming the marginal effect of the hotel's beachfront locations on hotel price. The study suggested that the location in front of the beach raised the average hotel room rates by 13–41%. The results emphasized the significant spatial variability of the effect of beachfront location on the hotel price. In addition, the effect of beach protection structures (i.e., seawall, breakwaters, groins) on the hotel price was also investigated and implied a slight drop by 8–15% of the average price. The other sandy beach variables (such as beach length, width, and slope) effects on hotel price were also investigated. The finding of this study aims to help policymakers select and design proper adaptations to coastal erosion on tourist beaches in Thailand.

Institutional innovation in health insurance: a conditional assessment of non-market resources on the example of drug provision

The article discusses the issues of assessing the degree of willingness of the Kazakh population to pay for new drug supply programs. An important result is that proposals for institutional innovations have been developed, which are formed by taking into account the opinions of residents from regions of Kazakhstan. This kind of information is necessary for government bodies to solve social problems and obtain economic and other results under government programs. Research can be continued with regard to the compatibility of the proposed approaches with compulsory social health insurance. With regard to analogues, in the Russian Federation there was an attempt to introduce a similar mechanism and to submit a proposal for a draft law that would introduce this type of insurance into a compulsory system, which is planned to be introduced by 2025. The Kazakh model of financing the drug insurance program can be designed with an orientation towards the average needs of the population for drug provision.

Consumer Job Journeys

This article introduces the consumer job journey as a more holistic perspective by which to understand consumption journeys undertaken to acquire and use goods and services. It aids scholars and managers by helping make evident some key consumer decisions and behaviors that otherwise would be invisible. Four tenets lay the foundation for the concept of a consumer job journey, establishing some key differences relative to a traditional perspective on consumption journeys. A consumer job journey involves a sequence of goal-directed steps (and associated evaluative criteria) in pursuit of an overall job and the consumer actions directed by these steps to acquire, assemble, and integrate market and nonmarket resources. Propositions highlight the consumer’s role as an active project manager who continually adapts their resource configuration given job journey goal priorities, psychological tensions, and disruptions. In combination, the tenets and propositions highlight both research gaps and unique managerial implications.

The Camøno: A Communitarian Walking Trail in the Sharing Economy

ABSTRACTTo overcome socioeconomic decline, Danish coastal communities attempt to harness the potentials of the collaborative economy with novel forms of communitarian initiatives in tourism. This paper assesses the emergent business model of the Camøno walking trail, which was conceived as an alternative, bottom-up initiative to leverage tourism in Southern Denmark. To understand its rapid uptake and success, we draw on theorizations of value creation in alternative and sharing economies as a reframing process, with due attention to the transformation of non-market resources into commodities (public land, volunteer labour, sense of place). Based on a two-year-long ethnographic fieldwork chronicling the consolidation of the Camøno, we analyze these reframing processes and identify three domains of collaborative governance; the governance of affect, the governance of ownership and the governance of exchange. The paper concludes with a discussion of the institutionalization of ad-hoc, alternative business models with due attention to policy recommendations in a European rural context.

Economic Valuation of Cultural Heritage: Application of Travel Cost Method to the National Museum and Research Center of Altamira

The economic assessment of non-marketed resources (i.e., cultural heritage) can be developed with stated or revealed preference methods. Travel cost method (TCM) is based on the demand theory and assumes that the demand for a recreational site is inversely related to the travel costs that a certain visitor must face to enjoy it. Its application requires data about the tourist’s origin. This work aims to analyze the economic value of the National Museum and Research Center of Altamira, which was created to research, conserve, and broadcast the Cave of Altamira (UNESCO World Heritage Site since 1985). It includes an accurate replica known as the “Neocave”. Two different TCM approaches have been applied to obtain the demand curve of the museum, which is a powerful tool that helps to assess past and future investments. It has also provided the annual economic value estimate of the National Museum and Research Center of Altamira, which varies between 4.75 and 8.00 million € per year.

Poverty as Functioning Deprivation: Global Estimates

Poverty alleviation and eradication have always remained a major challenge for the political leadership at the national and international level. However, no consensus exists about the definition and measurement of poverty. Recent understanding sees poverty as much more than lack of income. Hunger, unemployment and ill heath are just some of many dimensions of poverty. We have contributed to the existing debate by defining poverty as a deprivation of a number of functionings (actual achievements), considered vital but not equally important for human wellbeing, caused by an inadequate command over market or nonmarket resources. We have identified nine basic functionings and corresponding indicators that best reflect these nine basic functionings and develop a composite index of poverty for 193 countries of the world for cross country comparison. We have analyzed poverty for two periods 1990–2000 and 2001–2010 to make an inter-temporal comparison in global poverty. According to our estimates, the global poverty has only modestly come down by 4 percentage points from 35% in 1990–2000 to 31% in 2001–2010. This contrasts sharply with the estimates based on the poverty line of the World Bank that the proportion of population living in extreme poverty has nearly halved from 47% in 1990 to 24% in 2015.

Non-market resource allocation and the public’s interpretation of need: an empirical investigation in the context of health care

The concept of need is central to the non-market allocation of many public resources, although the definition of need to serve as a basis for such resource allocation often remains contested. This study uses a discrete-choice experiment to investigate the general public’s interpretation of need in the context of health care resource allocation, focusing on three commonly cited definitions of need: need as a person’s baseline health status; need as a person’s ability-to-benefit; and need as the amount of resources required to exhaust a person’s ability-to-benefit. Analysis of participants’ need judgments using a latent-class, rank-ordered conditional logit model reveals that most individuals draw on all three definitions when assessing need, and that here is heterogeneity in interpretations of need among the public. Baseline health status is the most influential and consistent determinant of need, while ability-to-benefit and resources-required-to-exhaust-benefit are considered jointly. However, while some assign greater need to those who are worse off in the sense that they have little ability-to-benefit and require large amounts of resources to achieve that benefit, others assign greater need to those who have greater ability-to-benefit and whose benefit can be achieved with small amounts of resources. The public’s reasoning about need contrasts sharply in a number of ways with the types of arguments offered in the literature on needs-based resource allocation.

基于选择实验的三江平原湿地生态系统服务功能价值评价及偏好异质性研究

PDF HTML阅读 XML下载 导出引用 引用提醒 基于选择实验的三江平原湿地生态系统服务功能价值评价及偏好异质性研究 DOI: 10.5846/stxb201604120669 作者: 作者单位: 东北农业大学 管理科学与工程系,东北农业大学 管理科学与工程系,东北农业大学,东北农业大学,东北农业大学 作者简介: 通讯作者: 中图分类号: 基金项目: 国家自然科学基金资助项目（71171044） Evaluation of preference heterogeneity of ecosystem services in the Sanjiang Plain Wetlands based on choice experiments Author: Affiliation: Department of Management Science and Engineering,Northeast Agricultural University,Department of Management Science and Engineering,Northeast Agricultural University,Northeast Agricultural University,Northeast Agricultural University, Fund Project: 摘要 | 图/表 | 访问统计 | 参考文献 | 相似文献 | 引证文献 | 资源附件 | 文章评论 摘要:维持与保护生态系统服务功能是实现可持续发展的基础，定量评价湿地生态系统服务功能的经济价值已成为当前生态学领域研究的前沿课题。以三江平原湿地为研究对象，应用选择实验法，选取湿地面积、生物多样性、水源涵养和自然景观等4项湿地属性，运用随机参数Logit模型（RPL）对其进行货币化评价，并结合潜在分类模型（LCM）证实并解释公众对湿地生态系统服务功能的偏好异质性。研究结果显示：湿地生态系统服务功能的价值依次为水源涵养 > 湿地面积 > 生物多样性 > 自然景观。对于维持当前各项湿地生态系统服务功能的总价值为14.61亿元/a，改善价值为98.58亿元/a。此外，研究发现受访者可分为资源偏好型、景观偏好型和价格敏感型等3个潜在类别，不同类型的群体对湿地生态系统服务功能存在不同偏好；女性和更高学历的受访者更偏好于资源保护，高收入和到景区旅游次数多的受访者更偏好于景观保护，而教育和收入水平越低的受访者更倾向于选择价格较低的湿地管理方案。研究有助于湿地可持续管理政策的优化设计，为相关环境政策的制定提供理论依据。 Abstract:Maintenance and protection of ecosystem services are the basis for achieving sustainable development. Quantitative assessment of the economic value of wetland ecosystem services has become one of leading topics in the field of ecology. Choice experiments (CE) comprise an important non-market resource value evaluation technique, which are carried out by eliciting responses from individuals in hypothetical markets. CEs also enable researchers to measure a respondent's Willingness to Accept (WTA) compensation or Willingness to Pay (WTP) a premium for different characteristics of one product, and to analyze the relative value of a combination of different attributes from various alternatives by using econometric models. As CEs are most likely to reveal respondents' preferences for goods or services, such experiments have become a widespread means of ecological valuation. The purpose of this paper is to assist policy makers in formulating efficient and sustainable wetland management policies by providing the results of a valuation study on the Sanjiang Plain Wetlands. A CE was employed to estimate the values that changes to ecosystem service functions of the Sanjiang Plain Wetlands could provide to the public. We estimated partial values for wetland conservation, with a focus on wetland size, biodiversity, water conservation, and natural landscapes, among a myriad of wetland ecosystem services. A random parameter logit (RPL) model was employed to evaluate the ecosystem services in monetary units, and a latent class model (LCM) was employed to confirm and account for heterogeneity in the preferences of the public for various wetland ecosystem service functions. Compensating surplus welfare measures were also estimated for management scenarios representing changes in the quality and quantity of wetland ecosystem services. The results reveal that:(1) the relative wetland ecosystem valuation results of each wetland attribute are as follows:water conservation > wetland area > biodiversity > natural landscape. The relative contribution degree of each wetland attribute to the environment follows the same pattern.(2) The total WTP is RMB 1.461 billion per year in order to maintain the current wetland ecosystem service functions of the Sanjiang Plain Wetlands, and RMB 9.858 billion per year to improve them. (3) There is considerable preference heterogeneity across the public, which derives significant positive values from sustainable wetland management. We were able to divide respondents into three categories:those who preferred protecting resources, those who preferred protecting the landscape, and those who were price-sensitive. Female respondents and highly educated respondents preferred resource conservation, while respondents with higher incomes and those who had travelled more number of times to the Sanjiang Plain Wetlands preferred landscape protection. However, respondents with lower education and income levels were more sensitive to costs, and preferred to choose alternatives with lower cost. These results can aid in the design of socially optimal policies for sustainable management of wetlands and provide a theoretical basis for the development of environment-related policies. 参考文献 相似文献 引证文献

九寨沟景观游憩价值评估及空间分异研究

PDF HTML阅读 XML下载 导出引用 引用提醒 九寨沟景观游憩价值评估及空间分异 DOI: 10.5846/stxb201412222551 作者: 作者单位: 上海商学院,上海师范大学 作者简介: 通讯作者: 中图分类号: 基金项目: 国家自然科学基金资助项目（41271554） An assessment of the jiuzhaigou landscape recreational value and spatial variation Author: Affiliation: Shang Business School,Shanghai Normal University Fund Project: 摘要 | 图/表 | 访问统计 | 参考文献 | 相似文献 | 引证文献 | 资源附件 | 文章评论 摘要:九寨沟作为国家级自然保护区、风景名胜区和世界自然遗产地，面临在有效保护自然资源的同时最大化地满足人类游憩服务需求的挑战。学者已经采用CVM、TCM等不同方法的测算九寨沟游憩价值，并针对测算结果的有效性和信度进行探讨，但以往的研究方法无法测算不同旅游资源的游憩价值贡献。以景观服务为视角，通过景观游憩服务识别的方法，进行不同旅游资源价值评估。同类旅游资源因位置不同、个人偏好不同也会产生不同的价值贡献，以参与式制图的方法进行不同游憩服务点的感知评价，实现游憩价值的空间分异研究。采用参与式制图与条件价值法（CVM）相结合的方法，实现游客对游憩服务点的感知评价和位置制图，并完成游客对游憩服务的支付意愿调研，实现价值空间分异研究，共调研730人，有效样本614。分析发现，2012年九寨沟游憩支付意愿率为72.95%，取旅游者意愿支付平均值354.98元，测算九寨沟自然保护区2012年的游憩价值为9.4亿元，其中价值最高是高山湖泊、瀑布、滩流等观赏水体，为2.9亿元，最低的是观赏植物，为0.47亿元。从空间位置来看，单位价值高的游憩服务点主要集中在几条沟谷两侧，特别是已开发的树正沟、日则沟和则查洼沟。游憩价值的空间分异研究注重不同位置旅游资源价值贡献的强弱对比，以期为九寨沟自然保护区的具体监控管理提供依据。 Abstract:Jiuzhaigou is a national nature reserve, tourist attraction, and a natural World Heritage site, and its managers face the challenge of effectively protecting its environmental and cultural resources while meeting the needs of recreational visitors. Contingent valuation (CVM) and travel cost (TCM) methods have been used to evaluate the total recreational value of Jiuzhaigou, but such methods cannot measure the individual recreational values of various tourism resources. This study adopted a landscape services perspective to identify and evaluate the value of such tourism resources. In addition, participatory mapping of recreational service points was used to indicate personal preferences and the perceived value of individual tourism resources across the valley. A combination of participatory mapping and CVM was used to determine tourists' evaluations of service points and willingness to pay for various recreation resources. The tourists also participated in determining the location of landscape recreation points. Based on the survey results, the value of recreational resources and their spatial variation was evaluated. A total of 730 respondents were interviewed to determine their willingness to pay (WTP) for recreational resource protection, and 614 valid responses were obtained. Approximately 73% of respondents had a positive willingness to pay for recreational services. The average value a tourist was willing to pay was 354.98 yuan, and based on this figure, the recreational value of Jiuzhaigou was estimated at 0.94 billion yuan for 2012. The mountain lakes, waterfalls, and other areas of the water landscape had the highest recreational value (290 million yuan). The spatial distribution of highly valued recreation service points exhibited a high concentration on both sides of the developed valleys. Zharu valley received fewer visitors but had a higher recreational value than other areas. Contingent value assessment is an important technique used in non-market resource protection and utilization studies and has received increasing attention. Further research is needed to explore the reliability and validity of this method, and its applications to ecological landscape planning and the sustainable development of tourism. Research is also needed on spatial differentiation in the recreational value of tourism resources to provide the basis for specific monitoring and management of Jiuzhaigou Nature Reserve. 参考文献 相似文献 引证文献

Modeling Willingness to Pay for Coastal Tourism Resource Protection in Ko Chang Marine National Park, Thailand

The value of non-market resources is important information for the nature-based park investment and management. In this paper, we estimate visitors' willingness to pay (WTP) an entrance fee for beach resource protection of the Ko Chang Marine Park in Thailand using a standard contingent valuation method of a single-bounded (SB) and double-bounded (DB) dichotomous choice format. An on-site stratified sampling survey of 409 beach visitors was conducted at the park along the White Sand Beach shoreline. By comparing the two survey methods, the average WTP for a Thai beach visitor is about $12.01 under the SB elicitation survey and $7.27 per adult per visit under the DB elicitation method, respectively. It turns out that the foreign visitors' WTP is twice as much as that of Thai visitors' WTP. These can be translated to the lower and upper bounds of an aggregated value ranging between $10.33 million and $17.41 million per annum. The policy implications for the park management are addressed.

Equity over efficiency: a problem of credibility in scaling resource-based compensation?

Resource-based compensation aims to offset the public's welfare loss associated with environmental or resource injuries. Compensatory payments are frequently scaled using Equivalency Analysis (EA). EA's focus on ensuring equity in utility terms for the victim may lead to an inefficient outcome for society as it fails to incorporate the social opportunity cost of the compensatory payment. An alternative scaling approach based on Cost–Benefit Analysis (CBA) may better address the trade-offs facing society by considering the social marginal benefits of additional compensation, which may be a function of the cost of provision and the quality or quantity of existing resources. A simple numerical model illustrates differences in scaling approaches and underlying assumptions. In contrast to EA, CBA suggests that the optimal compensatory payment may be positive, zero or negative (i.e. additional damage should be allowed). EA need not lead to a decline in welfare if the environmental injury or the costs of compensation are marginal, or if policy makers have a particular welfare function in mind vis-a-vis the polluter. The lack of credible methods for pricing non-market resources may lead to a preference by policy makers for the equity-focused EA approach rather than one aiming for socially efficient outcomes. Both methods require inevitable value judgments to determine whether society is, in fact, ‘no worse off’ after compensation has been paid. EA seems in conflict with governments’ otherwise increasing, but still limited use of environmental CBA to direct scarce conservation resources – in this case, collected from the polluter on the public's behalf – to a variety of environmental challenges.

Valuing ecological resources through stakeholder participation

This paper presents a pilot effort to identify a methodology to more efficiently codify, quantify and illustrate the intrinsic values associated with ecological resources as expressed by stakeholders. Existing methodologies examine the value of ecological resources, but are often criticized for their monetary focus. These methods generally produce quasi-market values for non-market resources. The natural and cultural resources associated with a national park are analyzed in terms of the expressed values of active stakeholders to quantitatively produce multiple dimensions of value for each resource relative to all others. The resulting abstract and graphical value-space quantitatively reflects stakeholder participation, reflects non-market intrinsic value, and proactively contributes to environmental management and decision making.

Contingency Valuation of Croatian Arboretum Opeka

Contingent valuation is a survey-based economic technique for the valuation of non-market resources, such as environmental preservation or the impact of contamination. It is also the only approach that can generally be used to include what is usually referred to as the passive use component of the economic value of environmental goods. The aim of the survey is to estimate the amount of money visitors are willing to pay (or willing to accept) to use nature’s resources in the arboretum Opeka in North-West Croatia. Opeka Arboretum is situated in the Vinica municipality in northern Croatia. Located in a large park surrounding a manor, Opeka arboretum, with its 65 hectares is the largest of the three arboretums existing today in Croatia (the others are Trsteno in southern Dalmatia and Lisicine near Vocin in western Slavonia). The arboretum was founded in 1860 by the Count Marko Bombelles. Readiness to pay for visitor’s use of the arboretum has been investigated using the contingency method on a sample of 53 respondents. Research results present high preference for arboretum benefits such as beauty of landscape, cultural and historical significance, recreation and health but low willingness to pay the maximum of 30 euros (215 kuna).

An Empirical Study on Valuing Natural Resources Economic Values Using Benefit Transfer Method

In the recent years benefit transfer method has become a hot research area in the evaluation of non-market natural resources. Amide a variety of adopted research methodologies,Meta-regression benefit transfer method has become a mostly used one.In this paper, a large dataset based on the empirical non-market valuation study results reported in the United States was analyzed. This dataset is used to estimate a meta-regression model that was used to predict the corresponding recreation resources and activities values in China. The convergent validity of the meta-analytic international benefit transfer is tested against the observed recreation activity values in China. In the process, a relative percentage error indicator, paired t-test, and the Wilcoxon Signed Rank test are used. The mean benefit transfer error is 18.74%, an acceptable value for international transfer. These results suggest that the international benefit transfer could be reliably used in valuing outdoor recreational activities in China.

Loss Aversion and Rationality in Cutback Management: A Deliberative Democratic Approach to Contingent Valuation

Contingent valuation is a widely used and well-understood technique for the valuation of non-market resources. But under conditions of fiscal stress and budget reduction, the phenomenon of loss aversion (the tendency of otherwise rational people to place a higher value on a good they stand to lose than they did before it came into their possession) poses significant challenges to contingent valuation of public goods. This paper proposes inverting the process of contingent valuation and making it more deliberatively democratic in order to determine what citizens are “willing to sacrifice” under conditions of fiscal stress. This re-imagined form of contingent valuation offers advantages in terms of governmental transparency, analytical accuracy, and democratic legitimacy. It also allows practitioners of cutback management to incorporate important elements of political consensus building into early stages of the policy process, and it alerts them to the need and opportunity to ameliorate the impacts of spending reductions.

Equity Over Efficiency: A Problem of Credibility in Scaling Resource-Based Compensatory?

Resource-based compensation aims to offset the public's welfare loss associated with environmental injuries. Compensatory payments are frequently scaled using Equivalency Analysis (EA). EA's focus on ensuring equity in utility terms for the victim may lead to an inefficient outcome for society as it fails to incorporate the social opportunity cost of the compensatory payment. An alternative scaling approach based on Cost-Benefit Analysis (CBA) may better address the trade-offs facing society by considering the social marginal benefits of additional compensation, which may be a function of the cost of provision and the quality of existing resources. A simple numerical model illustrates the differences in scaling approaches. In contrast to EA, CBA suggests that the optimal compensatory payment may be positive, zero or negative (i.e., additional damage should be allowed). EA need not lead to a decline in welfare if the environmental damage or the costs of compensation are marginal, or if policy makers have a particular welfare function in mind vis a vis the polluter. The lack of credible methods for pricing non-market resources may lead to a preference by policy makers for the equity-focused EA approach rather than one aiming for socially efficient outcomes. Both methods require inevitable value judgments to determine whether society is, in fact, no worse off following compensation. EA seems in conflict with governments' otherwise increasing, but still limited, use of environmental CBA to direct scarce conservation resources to a variety of environmental challenges.

Alistair Munro: Bounded Rationality and Public Policy: A Perspective from Behavioural Economics. Ian J. Bateman (ed.): The Economics of Non-Market Goods and Resources

Alistair Munro: Bounded Rationality and Public Policy: A Perspective from Behavioural Economics. Ian J. Bateman (ed.): The Economics of Non-Market Goods and Resources