Article Summary

Can Stated Preference Valuations Help Improve environmental Decision MakingVarious problems in the environment had been resolved through dissimilar policies , involving however higher monetary values . Thousands of dollars are oftentimes spent on every acre that is being preserved . But harmonise to researches , the higher environmental preservation cost may be lowered by measuring the contingent valuation (CV ) or related stated preference (SP ) methods . Through the suppositious marketplace that is created employ these methods , the role of the environmental commodity consumers may be significantly relevant in decreasing the economic cost spent on the preservation policy that will eventually be employedThe use of SP has been widely utilise for a commodious time now . Various institutions including the World Bank utilizes these methods in assessing the economic values associated with environmental commodities It was as well used in assessing the natural resource damages at the resembling time identifying the method of recovery for its further use Examples of this were the vivid Resource Damage Assessment of the Exxon Valdez oil spill and the petroleum Pollution Act of 1990 .

separate uses of stated preferences are on policy making with pre-market goods , food safety , certification , and labelingThe reintroduction of white-haired Wolves in Yellowstone National Park and restoration of salmon in New England proved that contingent valuations are significantly grand in getting through environmental policy decisions that would in turn provide economic benefits in the community Other applications of SP or CV are focused on environmental quality such that the people s willingness to pay on policies that would flow the volatile components present in the environment is evaluatedThere are different numerous ways in which stated preference valuations are significant in policy decision-makings in the environment . On the other hand , it is non averted of issues that concerns with its accuracy . The people s hypothetical bias is one of the major issues being thrown at SP and CV . This issue , as well as other issues associated with its validity is part of the decision-making process . However , these do not create a significant impact in using stated preference methods in decision-making especially that which concerns the environment ReferenceStevens , T (2005 ) Can Stated Preference Valuations Help Improve environmental DecisionMaking ? Choices . Vol . 20 (30...If you want to get a full essay, parliamentary procedure it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper