Market simulation and the provision of public goods: a non-paternalistic response to anomalies in environmental evaluation

Sugden, Robert (2009) Market simulation and the provision of public goods: a non-paternalistic response to anomalies in environmental evaluation. Journal of Environmental Economics and Management, 57 (1). pp. 87-103.

Full text not available from this repository. (Request a copy)

Abstract

Most normative economics assumes that individuals have coherent preferences. This paper responds to growing evidence of failures of this assumption, particularly in the context of stated-preference methods widely used in environmental policy analysis. It proposes a non-paternalistic concept of consumer sovereignty that does not assume preference coherence, is satisfied by competitive markets, and can be applied to the provision of public goods. A key implication is that decisions should reflect valuations revealed ‘at the point of consumption’. Such valuations, which can be inferred from hedonic prices, may be less susceptible to willingness-to-accept (WTA)/willingness-to-pay (WTP) disparities than those elicited by stated-preference methods.

Item Type:	Article
Uncontrolled Keywords:	market simulation,public goods,paternalism,environmental evaluation
Faculty \ School:	Faculty of Social Sciences > School of Economics
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Economic Theory Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences Faculty of Social Sciences > Research Centres > Centre for Competition Policy Faculty of Social Sciences > Research Groups > Behavioural Economics
Depositing User:	Gina Neff
Date Deposited:	13 Jan 2011 11:09
Last Modified:	22 Apr 2023 00:52
URI:	https://ueaeprints.uea.ac.uk/id/eprint/18414
DOI:	10.1016/j.jeem.2008.09.001

Actions (login required)

View Item