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Environmental valuation under sustainable development

Article Abstract:

The principle of sustainable development has been widely accepted by policymakers. Sustainable development is based on the concept that the needs of the present are met while keeping the opportunities of future generations the same as those of present generations. An overlapping-generations model shows that an interdependence exists between the way in which society protects the future environment and the valuation of environmental services.

Author: Howarth, Richard B., Norgaard, Richard B.
Publisher: American Economic Association
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1992
Research, Sustainable development

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Unbiased value estimates for environmental goods: a cheap talk design for the contingent valuation method

Article Abstract:

An alternative design for hypothetical contingent valuation (CV) questionnaires is presented. The CV questionnaire design, which is referred to as 'cheap talk' design, involves a unique approach to induce subjects to provide unbiased answers to hypothetical valuation questions and includes an explicit explanation of the hypothetical bias problem. The efficacy of the cheap talk design has been validated through 16 different experiments.

Author: Taylor, Laura O., Cummings, Ronald G.
Publisher: American Economic Association
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1999
Products

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A revelation scheme for allocating organizational resources

Article Abstract:

Top management resource allocation requires lower management feedback for effectivity. The Value Revelation and Allocation Scheme (VARAS) allows management to compare different projects according to its perceived needs so that efficient resource allocation can be implemented. VARAS does not require elegant mathematics but it clearly and comprehensively describes how managers actually perceive their division and its needs.

Author: Miller, Jeffrey B., Brown, Pamela C., Thornton, James R., Buede, Dennis M.
Publisher: Elsevier B.V.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 1992
Management, Resource allocation

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Subjects list: Methods, Valuation
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