A choice experiment versus a contingent valuation approach to agri-environmental policy valuation
Hynes, Stephen Campbell, Danny Howley, Peter
Hynes, Stephen
Campbell, Danny
Howley, Peter
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Publication Date
2011-07
Type
Working Paper
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Citation
Hynes, S., Campbell, D., & Howley, P. (2011). A choice experiment versus a contingent valuation approach to agri-environmental policy valuation (Working paper no. 173). Galway: Department of Economics, National University of Ireland, Galway.
Abstract
The non-market value accruing from an agri-environmental scheme can be examined by assessing the public's willingness to pay for the policy outputs as a whole or by modelling the preferences of society for the component attributes of the rural landscape that result from the implementation of the policy. In this paper we examine if the welfare impacts from implementing an agri-environmental policy are significantly different if one uses a holistic valuation methodology such as contingent valuation or an attribute based valuation methodology such as choice experiments. It is argued that the valuation methodology chosen should be based on whether or not the overall objective is the valuation of the agri-environment policy package in its entirety or the valuation of each of the policy's distinct environmental outputs.
Publisher
National University of Ireland, Galway
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Attribution-NonCommercial-NoDerivs 3.0 Ireland