Ethical Beliefs and Behaviour in Contingent Valuation Surveys

A common assumption in the economic valuation of the environment is that environmental resources can essentially be treated identically to produced goods and services in estimating welfare measures. The most critical aspect of this assumption in this regard is that individuals are willing to trade-off environmental quality changes in exchange for changes in their income. In this paper, we briefly review some of the conceptual arguments over this issue, and existing empirical evidence, before presenting the results of a new pilot study which addresses some of the possible problems in viewing the environment in this fashion.