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Valuing the environment using the life-satisfaction approach
Date Issued
2006-05
Date Available
2009-02-19T17:07:21Z
Abstract
This paper presents a comprehensive theoretical and methodological framework clarifying the relationship between non-market environmental valuation techniques, in particular hedonic and life-satisfaction methods. The paper shows how life satisfaction scores can be used to test correctly the equilibrium condition in location markets required by the hedonic approach and that in the absence of equilibrium, the life-satisfaction approach is still a theoretically valid valuation technique. Valuation using the life-satisfaction approach suffers from caveats
associated with the cardinalisation of utility, however. Using data from Ireland, we apply this framework to the valuation of amenities linked to respondents’ dwelling areas using Geographic Information Systems (GIS).
Type of Material
Working Paper
Publisher
University College Dublin. School of Geography, Planning and Environmental Policy
Series
Planning and Environmental Policy Research Series
PEP/06/05
Copyright (Published Version)
Copyright S. Ferreira, M. Moro and J. P. Clinch (2006)
Subject – LCSH
Valuation
Satisfaction
Well-being--Ireland
Web versions
Language
English
Status of Item
Not peer reviewed
ISSN
1649-5586
This item is made available under a Creative Commons License
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