Contingent Valuation at the Farm Gate

Today we are moving into a world of economic justification, optimal resource allocation and public opinion recognition. A world where there is a rationale to further explore and develop the contingent valuation method (CVM) for valuing quasi-private goods. In this paper, the traditional CVM is adapted to value agricultural information services provided free of direct charges by private and government sources, in the high rainfall, sheep producing region of Western Australia. The study is designed to ensure the survey sample and the questionnaire itself do not introduce significant biases. The traditional CVM terminology, willingness to pay" is replaced by "maximum price" and "maximum value". Valuation questions used in the survey are based on hypothetical scenarios however, a payment vehicle is not used. To assess these changes the validity of the adapted CVM is discussed.

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Discussion Papers

 Record created 2017-04-01, last modified 2020-10-28

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