Estimating the four Hicksian measures for a public good: A contingent valuation investigation

Bateman, Ian J., Langford, Ian H., Munro, Alistair, Starmer, Chris and Sugden, Robert (2000) Estimating the four Hicksian measures for a public good: A contingent valuation investigation. Land Economics, 76 (3). pp. 355-373.

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Abstract

Using equivalent loss (the monetary loss equivalent to a proposed amenity reduction, EL) and equivalent gain (the gain equivalent to a proposed amenity increase, EG) alongside traditional welfare measures in a contingent valuation study of traffic disamenity, we report an experiment designed to test theoretical explanations of the well-known disparity between compensating surplus and equivalent surplus measures of welfare. No compelling evidence is found in favor of loss aversion as a cause of the disparity. Meanwhile, as valuation measures, the performance of EL is similar to the traditional willingness to pay for a gain, while EG performs poorly.

Item Type: Article
Faculty \ School: Faculty of Science > School of Environmental Sciences
Faculty of Social Sciences > School of Economics
UEA Research Groups: Faculty of Social Sciences > Research Centres > Centre for Competition Policy
Faculty of Social Sciences > Research Groups > Economic Theory
Faculty of Social Sciences > Research Groups > Behavioural Economics
Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences
Depositing User: Rosie Cullington
Date Deposited: 08 Apr 2011 10:45
Last Modified: 14 Aug 2023 11:30
URI: https://ueaeprints.uea.ac.uk/id/eprint/28646
DOI: 10.2307/3147034

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