Non-Market Valuation and the Household

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Date

March 31, 1998

Authors

V. Kerry Smith and George Van Houtven

Publication

Working Paper

Reading time

1 minute

The purpose of this paper is to describe the implications of the collective model of household behavior for the methods used to estimate the economic value of non-marketed environmental resources. The effects of public good and risk are considered, along with revealed and stated preference methods. To the extent the collective framework is adopted, then recover of individual preferences from household behavior requires distinguishing how preference and within household income allocations affect choices.

Topics

Data and Decision Tools

Authors

V. Kerry Smith

University Fellow

Kerry Smith is a university fellow at RFF where he researches environmental policy issues.

George Van Houtven

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