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A Choice Modelling Approach for Assessment of Use and Quasi-Option Values in Urban Planning for Areas of Environmental Interest AgEcon
Strazzera, Elisabetta; Cherchi, Elisabetta; Ferrini, Silvia.
This study adopts a discrete choice modelling methodology to evaluate individuals’ preferences over planning alternatives for an urban site of environmental interest. Since such projects involve some uncertainty and irreversibility, a special attention is devoted to the estimation of the quasi-option values which are associated to project development. Two distinct measures for the quasi-option value are estimated, and both coefficients indicate that the public places a significant value on reduction of the possibility of adverse irreversible effects: a more prudent development strategy is valued about four times more than a procedure that provides a lesser hedge against undesired outcomes. Furthermore, the study involved elicitation of intertemporal...
Tipo: Working or Discussion Paper Palavras-chave: Urban Planning; Environmental Values; Choice Modelling; Use Values; Quasi-option Values; Discounting; C35; Q51; R41.
Ano: 2008 URL: http://purl.umn.edu/42903
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