Contingent Valuation Methodology in the Natural Resource Damage Regulatory Process: Choice Theory and the Embedding Phenomenon

dc.contributor.author Binger, Brian
dc.contributor.author Hoffman, Elizabeth
dc.contributor.author Copple, Robert
dc.contributor.author Hoffman, Elizabeth
dc.contributor.department Economics
dc.date 2018-02-18T01:05:37.000
dc.date.accessioned 2020-06-30T02:06:19Z
dc.date.available 2020-06-30T02:06:19Z
dc.date.copyright Sun Jan 01 00:00:00 UTC 1995
dc.date.issued 1995-07-01
dc.description.abstract <p>In their most recent article on the use of Contingent Valuation Methodology ("CVM") in the natural resource damages assessment ("NRDA") process, the authors take issue with the CVM components of the National Oceanic and Atmospheric Administration's ("NOAA") proposed NRDA rules. In particular, the authors argue that NOAA's proposed NRDA process does not comport with basic tenets of choice theory and that the CVM safeguards created by NOAA are not adequate to address the inherent, and perhaps irreconcilable, flaws in CVM assessments. To illustrate their arguments, the authors examine and criticize NOAA's treatment and general disregard of the embedding phenomenon. The author's argue that the existence of the embedding phenomenon in CVM valuations demonstrates the inappropriateness of CVM as a regulatory tool in the NRDA process.</p>
dc.description.comments <p>This article is from <em>National Resources Journal</em>, 1995, 35(3); 443, Posted with permission. </p>
dc.format.mimetype application/pdf
dc.identifier archive/lib.dr.iastate.edu/econ_las_pubs/330/
dc.identifier.articleid 1330
dc.identifier.contextkey 9370013
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath econ_las_pubs/330
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/21534
dc.language.iso en
dc.source.bitstream archive/lib.dr.iastate.edu/econ_las_pubs/330/1995_DR_HoffmanE_ContingentValuationMethodology.pdf|||Fri Jan 14 23:38:33 UTC 2022
dc.subject.disciplines Behavioral Economics
dc.subject.disciplines Health Economics
dc.subject.disciplines Physical and Environmental Geography
dc.subject.disciplines Public Economics
dc.subject.disciplines Regional Economics
dc.title Contingent Valuation Methodology in the Natural Resource Damage Regulatory Process: Choice Theory and the Embedding Phenomenon
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isAuthorOfPublication 18015554-bdf6-4ed4-ae3c-b37e36aae4d3
relation.isOrgUnitOfPublication 4c5aa914-a84a-4951-ab5f-3f60f4b65b3d
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