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Rationality Concepts in Environmental Valuation: Hohenheimer Volkswirtschaftliche Schriften, cartea 58

Autor Oliver Fror
en Limba Engleză Paperback – 25 oct 2007
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.
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Specificații

ISBN-13: 9783631573365
ISBN-10: 3631573367
Pagini: 239
Dimensiuni: 146 x 203 x 19 mm
Greutate: 0.39 kg
Ediția:1
Editura: Peter Lang Gmbh, Internationaler Verlag Der W
Colecția Peter Lang Pub Inc
Seriile Hohenheimer Volkswirtschaftliche Schriften, Hohenheimer Volkswirtschaftliche Schriften