Testing the embedding effect in the valuation of lagoon recovery

The contingent valuation method was employed to assess the benefts of recovering the Laguna Grande de San Pedro de La Paz in Chiles Bío-Bío region and to analyze the possible existence of an embedding effect. Our results indicate that there is not a perfect part-whole valuation effect and that ther...

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Autores principales:	Donoso,Guillermo, Cancino,José, Villar,Susana
Lenguaje:	English
Publicado:	Pontificia Universidad Católica de Chile. Facultad de Agronomía e Ingeniería Forestal 2010
Materias:	Contingent valuation economic value embedding effect part-whole effect scope insensitivity
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-16202010000100010
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spelling	oai:scielo:S0718-162020100001000102010-06-10Testing the embedding effect in the valuation of lagoon recoveryDonoso,GuillermoCancino,JoséVillar,Susana Contingent valuation economic value embedding effect part-whole effect scope insensitivity The contingent valuation method was employed to assess the benefts of recovering the Laguna Grande de San Pedro de La Paz in Chiles Bío-Bío region and to analyze the possible existence of an embedding effect. Our results indicate that there is not a perfect part-whole valuation effect and that there is an imperfect substitution relationship between the two analyzed projects. In addition, when assessing the joint construction project of a main sewer and a recreation park on the north hillside of the lagoon, we determined that households were willing to pay an average monthly amount of $6,114 for the associated beneft of the environmental improvement. This amount would contribute $ 358,977,396 per month to the project and a total value of $4,307,728,752. Additionally, the separate valuation of the two projects resulted in an amount of $ 3,290,635,524 for the main sewer and $ 2,484,518,138 for the recreation park. The absence of part-whole valuation effect may be explained by the precautions adopted in the surveys design and application, based on the review and analysis of prior studies.info:eu-repo/semantics/openAccessPontificia Universidad Católica de Chile. Facultad de Agronomía e Ingeniería ForestalCiencia e investigación agraria v.37 n.1 20102010-04-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-16202010000100010en10.4067/S0718-16202010000100010
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Contingent valuation economic value embedding effect part-whole effect scope insensitivity
spellingShingle	Contingent valuation economic value embedding effect part-whole effect scope insensitivity Donoso,Guillermo Cancino,José Villar,Susana Testing the embedding effect in the valuation of lagoon recovery
description	The contingent valuation method was employed to assess the benefts of recovering the Laguna Grande de San Pedro de La Paz in Chiles Bío-Bío region and to analyze the possible existence of an embedding effect. Our results indicate that there is not a perfect part-whole valuation effect and that there is an imperfect substitution relationship between the two analyzed projects. In addition, when assessing the joint construction project of a main sewer and a recreation park on the north hillside of the lagoon, we determined that households were willing to pay an average monthly amount of $6,114 for the associated beneft of the environmental improvement. This amount would contribute $ 358,977,396 per month to the project and a total value of $4,307,728,752. Additionally, the separate valuation of the two projects resulted in an amount of $ 3,290,635,524 for the main sewer and $ 2,484,518,138 for the recreation park. The absence of part-whole valuation effect may be explained by the precautions adopted in the surveys design and application, based on the review and analysis of prior studies.
author	Donoso,Guillermo Cancino,José Villar,Susana
author_facet	Donoso,Guillermo Cancino,José Villar,Susana
author_sort	Donoso,Guillermo
title	Testing the embedding effect in the valuation of lagoon recovery
title_short	Testing the embedding effect in the valuation of lagoon recovery
title_full	Testing the embedding effect in the valuation of lagoon recovery
title_fullStr	Testing the embedding effect in the valuation of lagoon recovery
title_full_unstemmed	Testing the embedding effect in the valuation of lagoon recovery
title_sort	testing the embedding effect in the valuation of lagoon recovery
publisher	Pontificia Universidad Católica de Chile. Facultad de Agronomía e Ingeniería Forestal
publishDate	2010
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-16202010000100010
work_keys_str_mv	AT donosoguillermo testingtheembeddingeffectinthevaluationoflagoonrecovery AT cancinojose testingtheembeddingeffectinthevaluationoflagoonrecovery AT villarsusana testingtheembeddingeffectinthevaluationoflagoonrecovery
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Testing the embedding effect in the valuation of lagoon recovery

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