Lexicographic Preferences in Contingent Valuation: A Theoretical Framework with Illustrations.
This paper considers some implications of L*-ordering, an incommensurable preference model proposed in earlier CV literature. The structure and existence of inverse demand functions is shown to be a function of three elements, the relationship between goods and wants, WTA/WTP formats and the endowme...
| Published in: | Land Economics Vol. 79; no. 2; pp. 277 - 292 |
|---|---|
| Main Author: | |
| Format: | Article |
| Published: |
University of Wisconsin Press
May 2003
|
| Subjects: | |
| Online Access: | View this record in EBSCOhost |