TY - JOUR
T1 - Arbitrary values, good causes, and premature verdicts
AU - Smith, V. Kerry
N1 - Funding Information:
“This paper has benefited from the comments of anonymous referees and a number of readers. including Richard Bishop, Ron Cummings, Bill Desvousges, Ann Fisher, Rick Freeman. John Payne, Alan Randall. and Bill Schulze. None of them are responsible for errors or misinterpretations in the revised paper. Partial support of this research was provided by National Science Foundation Grant SES-8911372. Thanks are also due to Barbara Scott for constructive editing that improved several earlier drafts of the paper. ‘Often these concerns are attributed to Samuelson’s public goods. However, in later writing on the implications
PY - 1992/1
Y1 - 1992/1
N2 - This paper offers an alternative interpretation of the conclusions Kahneman and Knetsch propose based on two contingent valuation (CVM) surveys. The evaluation argues that while framing is important to CVM estimates, the design, implementation, and empirical findings reported from these surveys do not support their judgments. Moreover, with the exception of temporal embedding, conventional economic descriptions of individual behavior can explain the response patterns that they suggest are at variance with standard value theory.
AB - This paper offers an alternative interpretation of the conclusions Kahneman and Knetsch propose based on two contingent valuation (CVM) surveys. The evaluation argues that while framing is important to CVM estimates, the design, implementation, and empirical findings reported from these surveys do not support their judgments. Moreover, with the exception of temporal embedding, conventional economic descriptions of individual behavior can explain the response patterns that they suggest are at variance with standard value theory.
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U2 - 10.1016/0095-0696(92)90020-W
DO - 10.1016/0095-0696(92)90020-W
M3 - Article
AN - SCOPUS:38249014218
SN - 0095-0696
VL - 22
SP - 71
EP - 89
JO - Journal of Environmental Economics and Management
JF - Journal of Environmental Economics and Management
IS - 1
ER -