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ToolsBateman, 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.
Full text not available from this repository. (Request a copy)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: | 28 Mar 2025 04:55 |
| URI: | https://ueaeprints.uea.ac.uk/id/eprint/28646 |
| DOI: | 10.2307/3147034 |
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