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Survey based valuation techniques like the Contingent Valuation Method (CVM) rely particularly on the premise of respondents’ rationality when answering willingness to pay (WTP) questions. Results of CVM surveys have repeatedly put this fundamental assumption into question. This study adopts a more realistic view of rationality accounting for respondents’ limited capacities to process information. Based on cognitive psychology a technique to detect and analyze the bounds of rationality inherent in WTP statements is developed. Using an empirical example, the influence of bounded rationality on the validity of CVM results is analyzed. It is shown that individual differences in information processing play a major role. From these results recommendations for future survey design are developed.

Economic theory & philosophy --- Environmental economics --- Environmental economics. --- Environmental protection --- Economic aspects. --- Economics --- Environmental quality --- Environmental aspects --- Economic aspects --- Bounded Rationality --- Concepts --- Contingent Valuation --- Contingent Valuation Method --- Enviromental --- Environmental --- Frör --- Rationality --- Umweltbilanz --- Valuation

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Municipal solid waste management continues to be a major challenge for local governments in both urban and rural areas across the world, and one of the key issues is their financial constraints. Recently an economic analysis was conducted in Eryuan, a poor county located in Yunnan Province of China, where willingness to pay for an improved solid waste collection and treatment service was estimated and compared with the project cost. This study finds that the mean willingness to pay is about 1 percent of household income and the total willingness to pay can basically cover the total cost of the project. The analysis also shows that the poorest households in Eryuan are not only willing to pay more than the rich households in terms of income percentage in general, but also are willing to pay no less than the rich in absolute terms where no solid waste services are available; the poorest households have stronger demand for public solid waste management services while the rich have the capability to take private measures when public services are not available.

Contingent valuation method --- Economic analysis --- Energy --- Energy and Environment --- Environment --- Environment and Energy Efficiency --- Environmental Economics & Policies --- Multiple bounded discrete choice --- Municipal solid waste management --- Small towns --- Urban Solid Waste Management --- Waste Disposal & Utilization

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Economic analyses of development projects and policies often involve assigning an economic value to changes in the risk of loss of human life. A typical term used in the economic analyses is the value of statistical life, which reflects the aggregation of individuals' willingness to pay for fatal risk reduction and therefore the economic value to society to reduce the statistical incidence of premature death in the population by one. Studies on the value of a statistical life have been extensively conducted in the developed world; however, few such studies can be found for developing countries. This paper presents a study that estimates individuals' willingness to pay for cancer risk prevention in three provinces of China. The results imply that the mean value of willingness to pay for a cancer vaccine that is effective for one year is 759 yuan, with a much lower median value of 171 yuan. The estimated income elasticity of willingness to pay is 0.42. Using data on the incidence of cancer illness and death in the population, these willingness to pay figures imply that the marginal value of reducing the anticipated incidence of cancer mortality by one in the population is 73,000 yuan and an average value of 795,000 yuan, which are about six and 60 times average household annual income, respectively. The big difference between the marginal value and the average value of fatal risk reduction corresponds to a very low estimated elasticity of willingness to pay with respect to fatal risk reduction. This finding challenges the validity of previous studies of the value of a statistical life, which are mostly based on average willingness-to-pay values of mortality risk reduction.

Air pollution --- Cancer --- Consumer surplus --- Contingent valuation --- Contingent valuation method --- Demographics --- Developed countries --- Developing country context --- Durable goods --- Economic Theory & Research --- Economic value --- Economics --- Environment --- Environmental --- Environmental Economics & Policies --- Environmental protection --- Health Monitoring & Evaluation --- Health, Nutrition and Population --- High unemployment --- Labor markets --- Labor Policies --- Macroeconomics and Economic Growth --- Population Policies --- Present value --- Social Protections and Labor --- Tradeoffs --- Wages --- Willingness to pay --- WTP

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The practical importance of economic valuation information can hardly be overstated. Coastal and marine resource policy planning and management benefit from complete information on the impact of policy decisions.

internet survey --- open access --- contingent valuation method --- coastal management --- tourism --- Thailand --- marine --- wetlands --- harmful algae blooms --- environmental valuation --- quota --- cyanobacteria --- estuarine and coastal ecosystems --- wealth accounting --- seawater quality --- economic analysis --- remote sensing --- ecosystem restoration --- coastal ecosystems --- random utility model --- contingent behavior --- public policy --- habitat–fishery linkages --- Barbados --- coastal ecosystem services valuation --- fishery --- mangroves --- ecosystem services valuation --- coral reefs valuation --- recreational boating --- regulated open access --- non-market value --- economic valuation --- ecosystem services --- coastal

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This special edition, Seafood Sustainability Series I, includes two articles on seafood consumption, four on sustainable capture fisheries, and four on sustainable aquaculture. The articles on consumption explore an alternative perspective on sustainable seafood movement governance to consumer- or retail/brand-driven logic and analyze fish tissues for human consumption to detect contaminants like flame retardant chemicals hazardous to human health sourced from microplastic pollutants. Articles on capture fisheries include: • A study of harvest strategies to achieve ecological, economic, and social sustainability objectives; • An examination of the economic leverages and resources needed to sustain coastal artisanal fishing communities in Africa; • A review of sustainability planning efforts to combat fishing community threats like declining participation, aging infrastructure and fleets, gentrification, reduced resource access, market competition, and environmental stresses; • An analysis of responsible fish consumption through a life-promoting sustainable food system for school-age children. Three of the articles on aquaculture focus on studying consumer preferences related to sustainable aquaculture based on the estimation of how the attributes of aquaculture products (including product labeling and perception) affect consumers’ purchase decisions. The other article questions the widely held assumption of sustainable substitutability of plant protein sources (e.g., soymeal) for fishmeal in aquaculture production.

corporate social responsibility --- ecolabels --- ethical consumption --- green marketing --- supply chain management --- sustainable seafood --- contamination --- fish --- fisheries --- flame retardants --- health --- PBDE --- seafood --- trophic level --- sustainability --- sensory --- consumers --- artisanal fishers --- double-hurdle --- fish marketing --- fish mothers --- aquaculture --- IMTA --- ecolabel --- choice experiments --- latent class --- WTP --- Triple bottom line fisheries management --- harvest strategy development --- social objectives --- economic objectives --- ecological objectives --- shrimp feed --- fishmeal --- plant ingredients --- marine resources --- terrestrial resources --- contingent valuation method --- double-bounded dichotomous choice --- environmental economics --- environmental psychology --- New Ecological Paradigm --- seafood preference --- copper-alloy nets --- fishing community --- strategic planning --- port --- California --- school lunch programme --- Italy --- healthy nutrition --- oily fish --- Almost Ideal Demand System --- Deepwater Horizon --- frozen seafood market --- retail scanner data