Rationality Concepts in Environmental Valuation.

• Superior document: Hohenheimer Volkswirtschaftliche Schriften Series ; v.58
• Author: ör, Oliver.
• Place / Publishing House: Frankfurt a.M. : : Peter Lang GmbH, Internationaler Verlag der Wissenschaften,, 2007.; {copy}2008.
• Year of Publication: 2007
• Edition: 1st ed.
• Language: English
• Series: Hohenheimer Volkswirtschaftliche Schriften Series
• Physical Description: 1 online resource (262 pages)

Table of Contents

Cover -- i List of Figures -- ii List of Tables -- iii List of Abbreviations -- 1 Introduction -- 1.1 Motivation and scope -- 1.2 Further outline of the study -- 2 Environmental valuation -- 2.1 Theory and practice of environmental valuation -- 2.1.1 Environmental valuation - why? -- 2.1.2 Environmental valuation and benefit-cost analysis in neoclassical economics -- 2.1.3 Methods of environmental valuation -- 2.1.3.1 Indirect methods -- 2.1.3.2 Direct methods -- 2.1.4 Statistical estimation models for the CVM -- 2.2 Rationality problems in environmental valuation -- 2.2.1 Biases in Contingent Valuation -- 2.2.2 Rationality problems due to preference uncertainty -- 2.3 Summary -- 3 Rationality in economics -- 3.1 Outline of the chapter -- 3.2 Rationality concepts in economics an overview -- 3.2.1 What is rationality? -- 3.2.2 Extensions of the neoclassical rationality concept -- 3.3 Bounded rationality -- 3.3.1 The emergence of bounded rationality in the literature -- 3.3.2 Evidence of bounded rationality in economics and the social sciences -- 3.3.3 The psychological foundations of bounded rationality in environmental valuation -- 3.3.3.1 Why deal with psychology? -- 3.3.3.2 Cognitive psychology and its relation to the discipline of psychology -- 3.3.3.3 Fundamentals of cognitive psychology -- 3.3.4 Psychological models of reasoning: dual-process approaches -- 3.3.4.1 The concept of dual-process approaches -- 3.3.4.2 Specific model approaches of dual-processes in the context of environmental valuation -- 3.4 Summary -- 4 Bounded rationality in environmental valuation -- 4.1 Review and outline of the chapter -- 4.2 Theoretical considerations -- 4.2.1 Dealing with preference uncertainty: a fuzzy approach -- 4.2.1.1 Fuzzy logic and fuzzy preferences -- 4.2.1.2 Is it possible to assess fuzzy preferences regarding the environment?.

4.2.2 Considering bounded rationality in environmental valuation -- 4.2.2.1 What constitutes rationality in environmental valuation? The normative view -- 4.2.2.2 Why is bounded rationality a problem in environmental valuation? -- 4.2.2.3 Research questions and hypotheses -- 4.3 Development of empirical instruments for analyzing bounded rationality in CVM -- 4.3.1 A measure for individual differences in decision making: the rational experiential inventory (REI) -- 4.3.2 Adaptation of the REI to the context of the CVM -- 4.4 An empirical example -- 4.4.1 Background of the empirical research project: The Uplands Program -- 4.4.2 General research ideas and hypotheses of the subproject in northern Thailand -- 4.4.2.1 Problem definition -- 4.4.2.2 The empirical design -- 4.4.2.3 The measurement scales of bounded rationality in northern Thailand - research implementation in the survey design -- 4.4.2.4 Practical implementation of the survey -- 4.4.3 Empirical results of the project -- 4.4.3.1 Socio-economic and demographic characteristics of the respondent population -- 4.4.3.2 Estimates of willingness-to-pay for the tap water improvement program -- 4.4.3.3 Determinants of willingness-to-pay -- 4.4.3.4 The measurement scales of bounded rationality -- 4.4.3.5 Characteristics of the task independent and task dependent types -- 4.4.3.6 Bounded rationality and WTP -- 4.4.3.7 Detection of procedural biases and their relation to the measures of cognitive type -- 4.5 Discussion and implications of the empirical results of the study -- 5 Summary and conclusions -- 6 References -- 7 Appendix -- 7.1 Survey questionnaire -- 7.2 Correlations of socio-economic and attitudinal variables with TIF and TDF -- 7.2.1 Task independent factors -- 7.2.2 Task dependent factors.