This paper presents an alternative perspective on the process by which respondents consider options within choice experiments. Building on the “new” model of consumer demand by Stigler and Becker (1977), it suggests that the attributes within choice experiments are not valued directly, but...

This research has been carried out to establish; the importance of valuing externalities in relating decision making to the triple bottom line of ethanol production. By treating organic wastes as a resource and applying a different method of waste management, organic wastes could contribute...

Choice experiments (CE – otherwise known as Choice Modelling) have become widespread as an approach to environmental valuation in Australia. There are, however, limited applications that have focused on the estimation of estuary values. Furthermore, none of the existing valuation studies have...

Regulators around the world are currently considering national emissions trading systems (ETS) as a cost-effective way to reduce greenhouse gas emissions. ETS installations coverage is one of the numerous design issues confronting them. ‘Blanket coverage’ that includes all an economy’s...

A detailed proposal for an economy-wide emissions trading scheme in Australia was tabled by the government in December 2008 with a proposed start date for mid-2010. The government proposes unilateral linking, with no initial bilateral linkages, through the clean development mechanism and joint...

The Australian Government's Carbon Pollution Reduction Scheme (CPRS), March 2009, set a target of 5 to 15 per cent emission cuts during 2000 and 2020. The proposed target is weak and is likely to increase mitigation costs in Australia in the long run. This research report analyses the target’s...

A stochastic bio-economic model is constructed to analyse the effects of marine reserve ‘switching’ between a ‘no take’ area and a harvested area. The model accounts for both market and non-market values of the fishery. Estimated parameters from the red throat emperor fishery from the...

Water markets in Australia’s Murray-Darling Basin and the western US are compared in terms of their ability to mitigate water scarcity. The two regions share: (1) climate variability that requires large investment in water storages; (2) the need for internal and cross-border (state) water...

To elicit household willingness to pay (WTP) for improvements in environmental quality in three NSW catchments (Lachlan, Namoi and Hawkesbury-Nepean), a choice modelling (CM) study was conducted.This report presents results of research designed to investigate variations in WTP across different...

The northern cod fishery was once one of the world’s largest capture fisheries. Using data from the fishery, this research calculated the economic value of a marine reserve using a stochastic optimal control model with a jump-diffusion process. The analysis shows that, an optimal-sized marine...