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          Volume 40, Number 02, August 1996 >

Please use this identifier to cite or link to this item: http://purl.umn.edu/22394

Title: NON-COMPENSATORY PREFERENCE STRUCTURES IN NON-MARKET VALUATION OF NATURAL AREA POLICY
Authors: Lockwood, Michael
Issue Date: 1996-08
Abstract: Non-compensatory preferences may form a significant component of individuals' values for non-market goods such as natural areas, especially in the context of a reduction in environmental quality. The widespread neglect of such preferences can result in erroneous estimates of changes in economic welfare. Non-market valuation using techniques such as contingent valuation therefore need to take into account the possibility that some individuals hold noncompensatory preferences. The formal structure of the lexicographic noncompensatory ordering is described, and the theoretical implications of an individual holding such preferences over some region of goods space is examined. A method for the empirical identification of non-compensatory preference orderings is outlined.
URI: http://purl.umn.edu/22394
Institution/Association: Australian Journal of Agricultural Economics>Volume 40, Number 02, August 1996
Total Pages: 17
Language: English
From Page: 85
To Page: 101
Collections:Volume 40, Number 02, August 1996

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