Valuing the environment using the life-satisfaction approach
|Title:||Valuing the environment using the life-satisfaction approach||Authors:||Ferreira, S. (Susana)
Clinch, J. Peter
|Permanent link:||http://hdl.handle.net/10197/887||Date:||May-2006||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/Report no.:||Planning and Environmental Policy Research Series; PEP/06/05||Copyright (published version):||Copyright S. Ferreira, M. Moro and J. P. Clinch (2006)||Keywords:||Environmental valuation; Life satisfaction; Well-being; Subjective well-being||Subject LCSH:||Valuation
|Other versions:||http://www.ucd.ie/gpep/gpepinfo/06-05.pdf||Language:||en||Status of Item:||Not peer reviewed|
|Appears in Collections:||Geography, Planning and Environmental Policy Working Papers & Policy Briefs|
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