publication . Article . Other literature type . 1992

Valuing public goods: The purchase of moral satisfaction

Kahneman, Daniel; Knetsch, Jack L;
Restricted
  • Published: 01 Jan 1992 Journal: Journal of Environmental Economics and Management, volume 22, pages 57-70 (issn: 0095-0696, Copyright policy)
  • Publisher: Elsevier BV
Abstract
Contingent valuation surveys in which respondents state their willingness to pay (WTP) for public goods are coming into use in cost-benefit analyses and in litigation over environmental losses. The validity of the method is brought into question by several experimental observations. An embedding effect is dem(~ns~rated, in which WTP for a good \arie\ depending on whether it is evaluated on its own or as part of a more inclusive category. The ordering of various public issues by WTP is predicted with significant accuracy by independent ratings of the moral satisfaction associated with contributions to these causc~. Contingent valuation responses reflect the willi...
Subjects
free text keywords: Rebuttable presumption, Bequest value, Economics, Public economics, Damages, Public good, Actuarial science, Existence value, Willingness to pay, Microeconomics, Contingent valuation, Population, education.field_of_study, education, Welfare economics
Powered by OpenAIRE Open Research Graph
Any information missing or wrong?Report an Issue
publication . Article . Other literature type . 1992

Valuing public goods: The purchase of moral satisfaction

Kahneman, Daniel; Knetsch, Jack L;