DISTRIBUTIONAL ISSUES AND NONMARKET BENEFIT MEASUREMENT

The use of willingness to pay as a welfare criteria has several inherent weaknesses. Its potential for causing inequitable redistribution of income as well as ambiguity in project evaluation is explored. An empirical example is offered in a natural resource context. A travel cost model which includes both time and money costs is used for valuation and produces ambiguous results.


Issue Date:
1985-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/32323
Published in:
Western Journal of Agricultural Economics, Volume 10, Number 2
Page range:
162-169
Total Pages:
8




 Record created 2017-04-01, last modified 2017-08-24

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