Substitution Effects in the Valuation of Multiple Environmental Programs

Hoehn, John P.; Loomis, John B.

doi:10.1006/jeem.1993.1026

Cited by 113 publications

(57 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Hoehn and Loomis (1993) offer an alternative modeling approach that explicitly accounts for substitution across dichotomous choice scenarios rather than relegating these effects to the error term. However, empirical implementation of their approach requires a very structured data set exceeding the design of most dichotomous choice surveys that ask multiple valuation questions.…”

Section: Conceptual Frameworkmentioning

confidence: 99%

Measuring the Difference in Mean Willingness to Pay When Dichotomous Choice Contingent Valuation Responses Are Not Independent

Poe¹,

Welsh²,

Champ³

1997

Land Economics

View full text Add to dashboard Cite

Section: Conceptual Frameworkmentioning

confidence: 99%

Measuring the Difference in Mean Willingness to Pay When Dichotomous Choice Contingent Valuation Responses Are Not Independent

Poe¹,

Welsh²,

Champ³

1997

Land Economics

View full text Add to dashboard Cite

“…This is often the first, if not only, occasion a person has been asked to reveal a public opinion on the environment, and as such, the value revealed may reflect his or her overall desire to save the environment. For example, Hoehn and Loomis (1993) find that independent aggregation of the benefits of only two programs overstates their total benefits by 27 percent, the overstatement with three programs is 54 percent.…”

Section: Conclusion and Caveatsmentioning

confidence: 99%

Valuing Wildlife at Risk from Exotic Invaders in Yellowstone Lake

Cherry¹,

Shogren²,

Frykblom³

2006

Handbook on Contingent Valuation

View full text Add to dashboard Cite

“…Third, the second order derivatives of the valuation function with respect to attributes, that is ∂ 2 WTP(z, z 1 ,y, c)/ ∂z∂z' = -∂ 2 e(z, V(z 1 ,y, c), c)/∂z∂z', define a substitution matrix (the term was drawn from HOEHN and LOOMIS 1993). Fourth, the diagonal elements of the substitution matrix, that is -∂ 2 e(z, V(z 1 ,y, c), c)/∂z ij 2 represent the slope of the inverse demands for attributes.…”

mentioning

confidence: 99%

“…When these elements are negative, the landscape attributes are said substitutes in valuation; when they are positive, the attributes are complements in valuation; and when they are nil, the attributes are independent in valuation (cf. HOEHN and LOOMIS, 1993). There are three different types of substitution effects between landscape attributes: (i) substitution effects between different attributes in the same area (i ≠ k and j ≠ p); (ii) between the same attribute in different areas (i = k and j ≠ p); and (iii) between different attributes in different areas (i ≠ k and j ≠ p).…”

mentioning

confidence: 99%

See 1 more Smart Citation

Valuing alternative bundles of landscape attributes: cost-benefit analysis for the selection of optimal landscapes

Santos¹

2012

FIT

View full text Add to dashboard Cite

-The role of landscape valuation and extended cost-benefit analysis in landscape conservation decision-making is first addressed. It is stressed that substantial research on how to value alternative conservation schemes is required, in order to cope with emerging policy needs. An analytical frame for the valuation of alternative landscape conservation schemes is then discussed. This frame enables the analyst to sequentially disaggregate values for whole landscape changes over attributes. This is an essential operation if the optimal bundle of landscape attributes is to be selected by cost-benefit analysis. The concept of substitution between landscape attributes plays an essential role within the whole analytical frame. The circumstances that lead to anticipate substitution between landscape attributes are explored. A brief review of the alternative empirical strategies for landscape valuation is then carried out, to check whether they permit sequential desegregation of landscape value over attributes. Next, an empirical application to the valuation of landscape attribute changes in the Pennine Dales Environmentally Sensitive Area is presented. The empirical results confirm the idea of the prevalence of substitution in valuation in most practical contexts. To illustrate the potential of the proposed approach, a sequential cost-benefit analysis of attribute changes along consistent paths of aggregation is then carried out -which eventually leads to the selection of optimal bundles of landscape attributes. Some problems and limitations of the approach are also discussed. Among them, the question of non-uniqueness, or path dependency of the optimum is given particular consideration. Resumo -VALORAÇÃO DE MUDANÇAS PAISAGÍSTICAS MULTI-ATRIBUTOS: UMA ANÁLISECUSTO-BENEFÍCIO PARA A SELECÇÃO DE PAISAGENS ÓPTIMAS. Abordam-se primeiramente os papéis da valoração económica da paisagem e da análise custo-benefício no quadro da concepção e avaliação de programas de conservação da paisagem, colo-Professor Auxiliar, Departamento de Economia Agrária e Sociologia Rural, Instituto Superior de Agronomia.Uma versão anterior deste artigo foi apresentada na 7.ª Conferência Anual da EAERE (European Association of Environmental and Resource Economists), realizada em Lisboa (1996). O autor agradece ao Professor Ken Willis (Universidade de Newcastle) e ao Professor Fernando Oliveira Baptista (Universidade Técnica de Lisboa) o seu apoio e comentários a uma versão preliminar deste artigo. Todas as opiniões e erros são, naturalmente, da responssabilidade exclusiva do autor. A investigação que esteve na origem do artigo foi financiada pela JNICT (bolsa PRAXIS XXI/BD/4519/94) e o inquérito referido no texto foi financiado pelo Environmental

show abstract

Substitution Effects in the Valuation of Multiple Environmental Programs

Cited by 113 publications

References 0 publications

Measuring the Difference in Mean Willingness to Pay When Dichotomous Choice Contingent Valuation Responses Are Not Independent

Measuring the Difference in Mean Willingness to Pay When Dichotomous Choice Contingent Valuation Responses Are Not Independent

Valuing Wildlife at Risk from Exotic Invaders in Yellowstone Lake

Valuing alternative bundles of landscape attributes: cost-benefit analysis for the selection of optimal landscapes

Contact Info

Product

Resources

About