Environmental policy instruments generate transaction costs to public and private parties. There is a growing literature reporting on the size of transaction costs produced by environmental policy instruments. This paper extends that literature through an analysis of the factors that influence...

This study employs a comparative analysis of the transaction costs of alternative policy instruments. The institutional approach to the allocation of resources is emerging to supplement traditional analyses of market and government failures. The causes of these failures are many, but often point...

Environmental management at nature-basedtourism destinations includes a private and apublic component. The former refers tovoluntary environmental protection activitiescarried out by individual (and groups of)tourism operators. These activities aremotivated by the dependence of the...

In this paper, the results of empirical studies that applied two widely used methods - numerical certainty scale (NCS) and polychotmous choice (PC) - for estimating preference uncertainty adjusted willingness to pay (WTP) in contingent valuation (CV), are summarized. For this review, a number of...

Resource management decisions influence not only the output of the economy but also the distribution of utility between groups within the community. The theory of Cost Benefit Analysis provides a means of incorporating distributional changes into the decision making calculus through the...

According to neoclassical economic theory, a stated preference elicitation format comprising a single binary choice between the status quo and one alternative is incentive compatible under certain conditions. Formats typically used in choice experiments comprising a sequence of discrete choice...

Underground telecommunications and low-voltage electricity networks have several advantages over overhead networks including reliability of supply, safety and improved visual amenity. The economic viability of replacing existing overhead networks with new underground networks depends on the...

The ordinal scale and polychotomous choice methods are two widely used techniques for estimating preference uncertainty in stated preference studies. This article presents the results of two experiments that apply these estimation techniques. The first experiment was designed to compare and...