Amazon cover image
Image from Amazon.com

Rationality concepts in environmental valuation / Oliver Fr�or. [electronic resource]

By: Material type: TextTextSeries: Hohenheimer volkswirtschaftliche Schriften ; Bd. 58.Publication details: Frankfurt am Main ; New York : Peter Lang, (c)2007.Description: 1 online resource (xvi, 239 pages) : illustrationsContent type:
  • text
Media type:
  • computer
  • computer
Carrier type:
  • online resource
  • online resource
ISBN:
  • 9783631755150
  • 3631755155
Subject(s): Genre/Form: LOC classification:
  • HC79.5
Online resources: Available additional physical forms:
Contents:
Introduction -- Environmental valuation -- Rationality in economics -- Bounded rationality in environmental valuation -- Summary and conclusions.
Action note:
  • digitized 2014 HathiTrust Digital Library committed to preserve
Summary: 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.
Item type: Online Book
Tags from this library: No tags from this library for this title. Log in to add tags.
Star ratings
    Average rating: 0.0 (0 votes)

Originally presented as the author's thesis (doctoral)--University of Hohenheim, 2007.

Includes bibliographies and index.

Introduction -- Environmental valuation -- Rationality in economics -- Bounded rationality in environmental valuation -- Summary and conclusions.

Use copy Restrictions unspecified star MiAaHDL

COPYRIGHT NOT covered - Click this link to request copyright permission:

https://lib.ciu.edu/copyright-request-form

Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL

http://purl.oclc.org/DLF/benchrepro0212

digitized 2014 HathiTrust Digital Library committed to preserve pda MiAaHDL

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.

There are no comments on this title.

to post a comment.