scholarly journals Using the Contingent Grouping Method to Value Forest Attributes

ISRN Forestry ◽  
2013 ◽  
Vol 2013 ◽  
pp. 1-8
Author(s):  
Pere Riera ◽  
Joan Mogas ◽  
Raul Brey
Keyword(s):  
Stated Preference ◽  
Choice Modeling ◽  
Welfare Loss ◽  
Land Productivity ◽  
Modeling Methods ◽  
Valuation Method ◽  
Contingent Choice ◽  
Marginal Values ◽  
Grouping Method ◽  
Afforestation Program

This paper presents the first application of a recently proposed stated preference valuation method called contingent grouping. The method is an alternative to other choice modeling methods such as contingent choice or contingent ranking. It was applied to an afforestation program in the northeast of Spain. The attributes included (and the marginal values estimated per individual) were allowing picnicking in the new forests (€2.47), sequestering 1000 tons of CO2 (€0.04), delaying the loss of land productivity by 100 years, due to erosion in the new forests area (€0.783), and allowing four-wheel driving (€6.5), which is perceived as a welfare loss.

scholarly journals Joint Estimation of Revealed and Stated Preference Data: An Application to Recreational Red Snapper Valuation

2003 ◽  
Vol 32 (2) ◽  
pp. 209-221 ◽  
Author(s):  
Dhazn Gillig ◽  
Richard Woodward ◽  
Teofilo Ozuna ◽  
Wade L. Griffin
Keyword(s):  
Stated Preference ◽  
Contingent Valuation Method ◽  
Revealed Preference ◽  
Estimation Procedure ◽  
Joint Estimation ◽  
Red Snapper ◽  
Preference Data ◽  
Valuation Method ◽  
Upper Limit ◽  
Stated Preference Data

This study extends the joint estimation of revealed and stated preference data literature by accounting for truncation in the revealed preference data. The analytical model and estimation procedure are used to estimate the value of recreational red snapper fishing in the Gulf of Mexico. This recreational red snapper valuation is decomposed into its direct and indirect components. As expected, the value of recreational red snapper fishing using the joint revealed-stated preference model proposed in this analysis is bracketed on the upper limit by the value obtained using the contingent valuation method and on the lower limit by the travel cost method. The results also indicate that the joint model improves the precision of estimated recreational red snapper valuation.

VALUATION OF CULTURAL HERITAGE ASSET: ISSUES AND CHALLENGES

2014 ◽  
Vol 2 (1) ◽  
pp. 65-75
Author(s):  
Junainah Mohamad ◽  
Suriatini Ismail ◽  
Rosdi Ab Rahman
Keyword(s):  
Cultural Heritage ◽  
Stated Preference ◽  
Economic Valuation ◽  
Revealed Preference ◽  
Valuation Method ◽  
Asset Value ◽  
Sustained Use ◽  
Stated Preference Method ◽  
Conventional Methods

AbstrakPenilaian hartanah warisan budaya adalah berbeza bila dibandingkan dengan aset atau hartanah lainkerana warisan budaya tidak dapat dijualbeli secara aktif dalam pasaran. Kebanyakan orang termasukprofesional dan orang awam beranggapan harta warisan budaya sangat bernilai dan tidak dapat dinilai.Keunikan harta warisan budaya ini menjadikannya sukar untuk dinilai dengan kaedah konvensional yangsedia ada. Kaedah-kaedah innovasi yang terkini yang digunakan dalam harta warisan budaya adalahStated Preference method dan Revealed Preference method. Kaedah ini adalah di bawah kategorikaedah penilain ekonomi bagi non-market goods. Pada asasnya, adalah sangat penting untuk menilaiharta warisan budaya kerana (1) untuk mengakui dan menghormati keseluruhan harta warisan budaya(2) untuk menghargai keperluan penyelenggaraan dan pemeliharaan harta warisan budaya dan (3) bagimembantu menjawab akauntabiliti bagi mengekalkan kegunaan harta warisan budaya yang berterusan.Disebabkan pemikiran lalu di mana kebanyakan orang beranggapan bahawa harta warisan budaya adalahnon-reproducible, non-economic commodity dan non-substitutable maka wujud cabaran dalam menilaiharta warisan budaya. Kajian ini menyenaraikan keperluan dan cabaran dalam menilai harta warisanbudaya. Abstract A valuation of cultural heritage asset is different from other kinds of asset or property because culturalheritage is not normally traded actively in the market. Most people including professional and the generalpublic think cultural heritage is priceless and cannot be valued. The uniqueness of cultural heritage assetsmakes it difficult to be valued using the existing conventional methods. The most recent innovative methodsused in valuing cultural heritage asset are Stated Preference method and Revealed Preference method.Both methods are under economic valuation method for non-market goods. Essentially, it is very importantto assess the cultural heritage asset value in order to 1) acknowledge and respect the full worth ofheritage asset, 2) appreciate the need for maintenance and preservation of cultural heritage asset and, 3)assist in responding to calls for more accountability for the sustained use of these assets. Because of pastthinking where people believe that cultural heritage asset is non-reproducible, non-economic commodityand non-substitutable there are challenges exist in valuing cultural heritage asset. This paper highlightsthe need and challenges in valuing cultural heritage asset.

Contingent Valuation of Sports

2012 ◽  
pp. 334-350 ◽  
Author(s):  
Bruce K. Johnson ◽  
John C. Whitehead
Keyword(s):  
Public Goods ◽  
Contingent Valuation ◽  
Stated Preference ◽  
Contingent Valuation Method ◽  
Public Investment ◽  
Investment Project ◽  
Valuation Method ◽  
Civic Pride ◽  
Major League ◽  
The City

This article takes up the task of using surveys to quantify ex ante the value of a public investment project that offers both an excludable benefit stream and an intangible, subjectively valued benefit stream. It specifically describes the use of the Contingent Valuation Method (CVM) to conduct such surveys and to analyze the data to measure the benefits produced by sports public goods. The Lexington survey showed the feasibility of using the CVM to estimate willingness-to-pay for sports public goods, but left unanswered the question of how much major league sports public goods are worth. Pittsburgh's civic pride in its major league status would be intact if the Penguins left, since the city also hosts baseball's Pirates and football's Steelers. Conducting a CVM survey offers an opportunity to ask questions to allow stated preference methods other than CVM to be employed to inform public policy related to sports.

scholarly journals Choice Modeling for Usage Context-Based Design

2012 ◽  
Vol 134 (3) ◽  
Author(s):  
Lin He ◽  
Wei Chen ◽  
Christopher Hoyle ◽  
Bernard Yannou
Keyword(s):  
Hybrid Electric Vehicle ◽  
Consumer Preferences ◽  
Stated Preference ◽  
Revealed Preference ◽  
Choice Modeling ◽  
Modeling Framework ◽  
Preference Data ◽  
Design Paradigm ◽  
Usage Context ◽  
The Impact

Usage context-based design (UCBD) is an emerging design paradigm where usage context is considered as a critical part of driving factors behind customers’ choices. Here, usage context is defined as all aspects describing the context of product use that vary under different use conditions and affect product performance and/or consumer preferences for the product attributes. In this paper, we propose a choice modeling framework for UCBD to quantify the impact of usage context on customer choices. We start with defining a taxonomy for UCBD. By explicitly modeling usage context’s influence on both product performances and customer preferences, a step-by-step choice modeling procedure is proposed to support UCBD. Two case studies, a jigsaw example with stated preference data and a hybrid electric vehicle example with revealed preference data, demonstrate the needs and benefits of incorporating usage context in choice modeling.

scholarly journals Economic Valuation for Cultural and Passive Ecosystem Services Using a Stated Preference (Contingent Valuation Method (CVM)) Case of the Elgeyo Watershed Ecosystem, Kenya

2021 ◽  
Vol 2021 ◽  
pp. 1-12
Author(s):  
Justus E. Eregae ◽  
Paul Njogu ◽  
Rebecca Karanja ◽  
Moses Gichua
Keyword(s):  
Ecosystem Services ◽  
Stated Preference ◽  
Contingent Valuation Method ◽  
Economic Valuation ◽  
Economic Value ◽  
Valuation Method ◽  
Significant Difference ◽  
Use Values ◽  
Ecological Conservation ◽  
Passive Use Values

Valuation of ecosystem services (ESs) can be typical as use values and passive use values. However, the prevailing conventional markets provide economic instruments such as price tags to ecosystem use values, but rarely on passive use values. This is limited since it does not provide comprehensive ecological values that will adequately support rational decision-making processes regarding ecological conservation. The study adopted the contingency valuation method (CVM) where three hundred and eighty households of communities living within the Elgeyo watershed were sampled. The findings recorded 97% of the population was willing to pay for the ESs quoted. Individual maximum WTP ranged between 1 USD and 57.1 USD (cultural), 1 USD and 95.2 USD (bequest), and 1 USD and 76.2 USD (biodiversity conservation). The overall mean maximum WTP was 7.4 ± 0.34 USD, 9.1 ± 0.49 USD, and 11.1 ± 0.68 USD for the cultural, bequest, and biodiversity, respectively. The multivariate regression (maximum WTP as a function of administrative location, education, income, sex, age, and livestock number) exhibited a significant difference regardless of multivariate criteria used, where Wilks’ lambda has F (75,203) = 4.03, p < 0.001 . The findings provide an economic value for nonuse values that can be incorporated in total economic valuation (TEV) studies locally as well as provide an impetus on payment of ecosystem services (PES) in Kenya.

scholarly journals Behavioral Anomalies in Contingent Values and Actual Choices

2016 ◽  
Vol 45 (2) ◽  
pp. 246-269 ◽  
Author(s):  
Gregory L. Poe
Keyword(s):  
Contingent Valuation ◽  
Stated Preference ◽  
Contingent Valuation Method ◽  
Preference Elicitation ◽  
Stated Preferences ◽  
Stated Preference Methods ◽  
Elicitation Methods ◽  
Valuation Method ◽  
Growing Body

A growing body of literature demonstrates that many behavioral anomalies observed in stated-preference elicitation methods such as the contingent valuation method are also observed in actual choices and vice versa. This presentation furthers the argument that such parallel behaviors should be viewed as a strength of stated-preference methods. Three well-known anomalies observed in both stated preferences and actual choices are first reviewed to lay the foundation for this argument. A number of lesser-known anomalies are then presented to demonstrate the wider prevalence of parallel anomalies in stated preferences and actual choices.

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