Reconsidering Heterogeneity and Aggregation Issues in Environmental Valuation: A Multi-attribute Approach |
| |
Authors: | Jesús Barreiro-Hurlé José A Gómez-Limón |
| |
Institution: | (1) Agricultural Economics Area, Andalusian Agricultural Research Institute (IFAPA), Centro IFAPA Camino de Purchil, PO BOX 2027, Granada, 18080, Spain;(2) Agricultural Economics Area, ETS Ingenierías Agrarias de Palencia, University of Valladolid, Valladolid, Spain |
| |
Abstract: | The economic valuation of complex environmental goods (composed of multiple attributes) is an expanding field of research
in ecological and environmental economics. However, several issues are still subjects of debate. This paper focuses on three
of them: the linearity of the valuation function in the attributes; aggregation criteria for obtaining social values; and
the heterogeneity of individuals’ utility functions. A methodological approach based on Multi-attribute Utility Theory, which
enables us to contrast the impact of these concerns on the valuation of environmental goods, is proposed. We employ the methodology
to value a protected natural area and, from the results obtained, we can conclude that the non-linearity and the heterogeneity
of the individual utility function are relevant aspects of environmental valuation that need to be taken into account when
valuing environmental goods. |
| |
Keywords: | Valuation Multi-attribute utility Complex environmental goods Attribute non-linearity Heterogeneity Aggregation |
本文献已被 SpringerLink 等数据库收录! |
|