Welfare change estimates obtained from discrete-response contingent valuation experiments normally assume a particular distribution of willingness-to-pay (W TP).U sing conventional microeconomic theory, we derive upper and lower bounds on such estimates. These bounds are interpreted...

Topics in Environmental Economics brings together in one volume a selection of research reports on five priority areas of environmental economics: policy instruments, cost-benefit analysis, cost efficiency, contingent valuation, and experimental economics. The contributions are written by a...