Does better information about the good avoid the embedding effect?

Article Abstract:

The willingness to pay (WTP) for a good which is a part of a bigger good decreases WTP as compared to the WTP for a good which is not taken as a part of another good, a phenomenon known as the embedding effect. A study conducted to determine the effect of detailed information about the conservation of natural areas on this phenomenon shows that the additional information has no effect on the embedding effect on WTP. Thus, WTP depends on the questions at hand and substitutes for the larger good. Other contingent valuation of methods have to be developed to be able to find out the economic value of public goods.

Economic aspects, Measurement, Protection and preservation, Valuation, Environmental protection, Nature reserves, Natural areas, Value (Economics), Financial contingencies

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Efficacy of standards vs incentives for managing the environmental impacts of agriculture

Article Abstract:

The changes induced in individual behaviour regarding the environment by standards are substantial, whereas changes by Pigouvian incentives are small. The change in quantity of chemical applications induced through taxes or subsidies is small. The relative effectiveness of standards and incentives is compared with the magnitude of changes in water quality impacts of agriculture. The inducement of changes by standards receives less attention at an empirical level.

Psychological aspects, Social aspects, Research, Environmental aspects, Environmental impact analysis, Environmental economics, Water quality, Environmental education

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