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Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: A holistic vs. an attribute-based approach to agri-environmental policy valuation: do welfare estimates differ?
Author(s): Hynes, Stephen
Campbell, Danny
Howley, Peter
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Keywords: Attribute vs. holistic values
choice experiments
contingent valuation
environmental goods and services
environmental policy
latent class models
non-market valuation
preference heterogeneity
Issue Date: Jun-2011
Date Deposited: 16-Jan-2013
Citation: Hynes S, Campbell D & Howley P (2011) A holistic vs. an attribute-based approach to agri-environmental policy valuation: do welfare estimates differ?. Journal of Agricultural Economics, 62 (2), pp. 305-329.
Abstract: Different economic valuation methodologies can be used to value the non-market benefits of an agri-environmental scheme. In particular, the non-market value can be examined by assessing the public's willingness to pay for the policy outputs as a whole or by modelling the preferences of society for the component attributes of the rural landscape that result from the implementation of the policy. In this article we examine whether the welfare values estimated for an agri-environmental policy are significantly different between an holistic valuation methodology (using contingent valuation) and an attribute-based valuation methodology (choice experiment). It is argued that the valuation methodology chosen should be based on whether or not the overall objective is the valuation of the agri-environment policy package in its entirety or the valuation of each of the policy's distinct environmental outputs.
DOI Link: 10.1111/j.1477-9552.2010.00287.x
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