The Economic Valuation of Non-Market Goods

Contact:  Brett Day

Researchers:  David Pearce, Brett Day, Andreas Kontoleon, David Maddison, Wolf Krug, Marialena Pollicino, Camille Bann

Programme:  Economic valuation involves the placing of monetary values on goods and services that are ‘non-marketed’. CSERGE maintains a vigorous research programme in the field of non-market valuation using both revealed preference (RP) and stated preference (SP) techniques. Non-market valuation techniques have been applied across a broad spectrum of policy contexts. Recent projects include the valuation of wildlife and natural areas, noise pollution, water quality, ill-health avoidance, cultural heritage, charitable organisations and landscape amenity. Further, CSERGE researchers are at the forefront of methodological and theoretical advances in both RP and SP techniques. Recent research has focussed on improving the statistical methods used in the analysis of stated preference data, theoretical work on demand analysis from hedonic property markets and various applications of travel cost modelling.

Publications:

Bann, C. (1998) The economic value of mangroves: a manual for researches, Economy and Environment Program for Southeast Asia, Singapore

Day, B.H., 1999. Do Scenario Context and Question Order Influence WTP? The Application of a Model of Uncertain WTP to the CV of the Morbidity Impacts of Air Pollution, in Benefits Transfer and the Economic Valuation of Environmental Damage in the European Union with Special Reference to Health, Final Report to the DG-XII, European Commission, contract ENV4-CT96-0227

Day, B.H., 1999. A Meta-Analysis of Wage-Risk Estimates of the Value of a Statistical Life, in Benefits Transfer and the Economic Valuation of Environmental Damage in the European Union with Special Reference to Health, Final Report to the DG-XII, European Commission, contract ENV4-CT96-0227

Day, B.H., 2000. A recreational demand model of wildlife-viewing visits to the game reserves of the Kwazulu-Natal province of South Africa. CSERGE Working Paper, GEC 2000-08 .

Day, B.H., 2001. The theory of hedonic markets; Obtaining welfare measures for changes in environmental quality using hedonic market data Report for the EU Working Group on Noise.

Title   Summary   Chapter 1   Chapter 2   Chapter 3

Day, B.H., and Mourato, S. 1998. Willingness to pay for water quality maintenance in Chinese rivers. CSERGE Working Paper, WM 98-02.

Krug, W. (2000) Nature tourism and protected area pricing: lessons learned from Africa, in: The design and Management of Forest Protected Areas – Papers presented at the Beyond the Trees Conference 8-11 May 2000 in Bangkok/Thailand, WWF, Gland, pp. 159-173

Maddison, D. and Foster, T. (2001) Valuing Congestion in the British Museum

Moran, D. (1994) Contingent valuation and biodiversity: measuring the user surplus of Kenyan protected areas. Biodiversity and Conservation 3, pp.663-684

Moran, D and Pearce, D.W. (2001) Handbook on the Applied Valuation of Biological Diversity, OECD, Paris, forthcoming.

Nunes, L.C., M. Cunha-e-Sá, M. Ducla-Soares, M.A. Rosado, B. H. Day, 2001. Identifying Non-Consistent Choice Behavior in Recreation Demand Models, Economic Letters, (forthcoming)

Pearce, D.W., Moran, D., Krug, W. (1999) The Global Value of Biological Diversity, Report to the United Nations Environment Programme, Nairobi, Kenya

Pearce, D.W and Pearce, C.G. (2001) The Value of Forest Ecosystems, Report to the Secretariat of the United Nations Convention on Biological Diversity, Montreal, Canada.

Pollicino, M. and Maddison, D. (2001) Valuing the Benefits of Cleaning Lincoln Cathedral. The Journal of Cultural Economics Vol. 25, pp131-148.

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