[태그:] public goods

This paper describes a voting procedure for revealing preferences for public goods. The procedure consists of two steps: a proposal by each committee member to be added along with the status quo to form the issue set, and then, subsequent to a random determination of voting order, the elimination of one proposal from the issue set by each committee member. For any set of proposals ...

Contingent valuation surveys in which respondents state their willingness to pay (WTP) for public goods are coming into use in cost-benefit analyses and in litigation over environmental losses. The validity of the method is brought into question by several experimental observations. An embedding effect is demonstrated, in which WTP for a good varies depending on whether it is evaluated on its own or as part ...