Peer-Reviewed Journal Details
Mandatory Fields
Hynes, S,Campbell, D,Howley, P
Journal Of Agricultural Economics
A Holistic vs. an Attribute-based Approach to Agri-Environmental Policy Valuation: Do Welfare Estimates Differ?
Optional Fields
Attribute vs holistic values choice experiments contingent valuation environmental goods and services environmental policy latent class models non-market valuation preference heterogeneity Q18 Q51 WILLINGNESS-TO-PAY CONTINGENT-VALUATION CHOICE EXPERIMENTS PREFERENCE HETEROGENEITY LANDSCAPE IMPROVEMENTS PUBLIC-GOODS DESIGN BENEFITS MODELS AREAS
Different economic valuation methodologies can be used to value the non-market benefits of an agri-environmental scheme. In particular, the non-market value can be examined by assessing the public's willingness to pay for the policy outputs as a whole or by modelling the preferences of society for the component attributes of the rural landscape that result from the implementation of the policy. In this article we examine whether the welfare values estimated for an agri-environmental policy are significantly different between an holistic valuation methodology (using contingent valuation) and an attribute-based valuation methodology (choice experiment). It is argued that the valuation methodology chosen should be based on whether or not the overall objective is the valuation of the agri-environment policy package in its entirety or the valuation of each of the policy's distinct environmental outputs.
DOI 10.1111/j.1477-9552.2010.00287.x
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