ETHICAL PREFERENCES AND THE ASSESSMENT OF EXISTENCE VALUES: DOES THE NEOCLASSICAL MODEL FIT?

Some of the implications of ethical preferences for traditional welfare analyses of existence values are discussed in this paper and illustrated with a lexicographic model for preference structures. Although willingness-to-pay and willingness-to-sell are well-defined, their connection with Hicksian surpluses is lost when a person is motivated by an ethical commitment to others welfare. Researchers need to expand contingent valuation methods to collect information on underlying motives and types of preferences in order to identify respondents who fit the neoclassical model of egoistic man.


Issue Date:
1986-10
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/29059
Published in:
Northeastern Journal of Agricultural and Resource Economics, Volume 15, Number 2
Page range:
145-150
Total Pages:
6




 Record created 2017-04-01, last modified 2017-08-24

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