Valuation of complex environmental goods: A multi-criteria approach
Keywords:
Bienes ambientales complejos, heterogeneidad, linealidad de atributos, utilidad multiatributo, valoración.Abstract
Economic valuation of complex environmental goods has several issues still opened to debate. This paper focuses on two of these aspects; linearity of attributes in the valuation function and individual utility function heterogeneity. A methodological approach based on Multi-attribute Utility Theory is proposed which allows to contrast the impact of these concerns on environmental good valuation. We apply the proposed methodology to value a protected natural in the province of Granada (Spain). From the results obtained we can conclude that attribute non-linearity and individual utility function’s heterogeneity are relevant aspects to be taken into account in environmental valuation.
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2011-10-14
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