Rationality Concepts in Environmental Valuation
Survey based valuation techniques like the Contingent Valuation Method (CVM) rely particularly on the premise of respondents' rationality when answering willingness to pay (WTP) questions. Results of CVM surveys have repeatedly put this fundamental assumption into question. This study adopts a...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic Book Chapter |
| Language: | English |
| Published: |
Bern
Peter Lang International Academic Publishing Group
2018
|
| Series: | Hohenheimer volkswirtschaftliche Schriften
|
| Subjects: | |
| Online Access: | DOAB: download the publication DOAB: description of the publication |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
MARC
| LEADER | 00000naaaa2200000uu 4500 | ||
|---|---|---|---|
| 001 | doab_20_500_12854_38577 | ||
| 005 | 20210210 | ||
| 003 | oapen | ||
| 006 | m o d | ||
| 007 | cr|mn|---annan | ||
| 008 | 20210210s2018 xx |||||o ||| 0|eng d | ||
| 020 | |a b14029 | ||
| 020 | |a 9783631755150 | ||
| 040 | |a oapen |c oapen | ||
| 024 | 7 | |a 10.3726/b14029 |c doi | |
| 041 | 0 | |a eng | |
| 042 | |a dc | ||
| 072 | 7 | |a KCA |2 bicssc | |
| 072 | 7 | |a KCN |2 bicssc | |
| 100 | 1 | |a Frör, Oliver |4 auth | |
| 245 | 1 | 0 | |a Rationality Concepts in Environmental Valuation |
| 260 | |a Bern |b Peter Lang International Academic Publishing Group |c 2018 | ||
| 300 | |a 1 electronic resource (255 p.) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a Hohenheimer volkswirtschaftliche Schriften | |
| 506 | 0 | |a Open Access |2 star |f Unrestricted online access | |
| 520 | |a Survey based valuation techniques like the Contingent Valuation Method (CVM) rely particularly on the premise of respondents' rationality when answering willingness to pay (WTP) questions. Results of CVM surveys have repeatedly put this fundamental assumption into question. This study adopts a more realistic view of rationality accounting for respondents' limited capacities to process information. Based on cognitive psychology a technique to detect and analyze the bounds of rationality inherent in WTP statements is developed. Using an empirical example, the influence of bounded rationality on the validity of CVM results is analyzed. It is shown that individual differences in information processing play a major role. From these results recommendations for future survey design are developed. | ||
| 540 | |a Creative Commons |f https://creativecommons.org/licenses/by/4.0/legalcode |2 cc |4 https://creativecommons.org/licenses/by/4.0/legalcode | ||
| 546 | |a English | ||
| 650 | 7 | |a Economic theory & philosophy |2 bicssc | |
| 650 | 7 | |a Environmental economics |2 bicssc | |
| 653 | |a Bounded Rationality | ||
| 653 | |a Concepts | ||
| 653 | |a Contingent Valuation | ||
| 653 | |a Contingent Valuation Method | ||
| 653 | |a Enviromental | ||
| 653 | |a Environmental | ||
| 653 | |a Frör | ||
| 653 | |a Rationality | ||
| 653 | |a Umweltbilanz | ||
| 653 | |a Valuation | ||
| 856 | 4 | 0 | |a www.oapen.org |u https://library.oapen.org/bitstream/20.500.12657/26781/1/1003264.pdf |7 0 |z DOAB: download the publication |
| 856 | 4 | 0 | |a www.oapen.org |u https://library.oapen.org/bitstream/20.500.12657/26781/1/1003264.pdf |7 0 |z DOAB: download the publication |
| 856 | 4 | 0 | |a www.oapen.org |u https://library.oapen.org/bitstream/20.500.12657/26781/1/1003264.pdf |7 0 |z DOAB: download the publication |
| 856 | 4 | 0 | |a www.oapen.org |u https://library.oapen.org/bitstream/20.500.12657/26781/1/1003264.pdf |7 0 |z DOAB: download the publication |
| 856 | 4 | 0 | |a www.oapen.org |u https://directory.doabooks.org/handle/20.500.12854/38577 |7 0 |z DOAB: description of the publication |