Conceptual and Statistical Issues in Contingent Valuation

Estimating the Value of Altered Visibility in the Grand Canyon

Daniel S. Levy, James K. Hammitt, Naihua Duan, Theodore Downes-Le Guin, David B. Friedman

ResearchPublished 1995

This report addresses a number of economic, legal, survey/methodological, and statistical issues as they arose in two contingent valuation studies used to estimate the value of improvements in visibility in the Grand Canyon, where emissions from a coal-fired electric generating plant were believed to contribute to winter haze. Contingent valuation is a method of measuring the economic value of environmental and other public goods. Use and nonuse economic values, willingness to pay for an improvement or to avoid degradation (or willingness to accept compensation instead), property rights, and various conceptual and statistical issues are explored. The report is based on a comment filed with the Environmental Protection Agency's Public Docket and should be of interest to those involved in the regulatory debate and others who measure the economic value of environmental and other public goods.

Document Details

Citation

Chicago Manual of Style

Levy, Daniel S., James K. Hammitt, Naihua Duan, Theodore Downes-Le Guin, and David B. Friedman, Conceptual and Statistical Issues in Contingent Valuation: Estimating the Value of Altered Visibility in the Grand Canyon. Santa Monica, CA: RAND Corporation, 1995. https://www.rand.org/pubs/monograph_reports/MR344.html.
BibTeX RIS

This publication is part of the RAND monograph report series. The monograph report was a product of RAND from 1993 to 2003. RAND monograph reports presented major research findings that addressed the challenges facing the public and private sectors. They included executive summaries, technical documentation, and synthesis pieces.

This research in the public interest was supported by RAND using discretionary funds made possible by the generosity of RAND's donors, the fees earned on client-funded research, or independent research and development (IR&D) funds provided by the Department of Defense.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

RAND is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.