A Choice Modelling Approach for Assessment of Use and Quasi-Option Values in Urban Planning for Areas of Environmental Interest
| dc.creator | Strazzera, Elisabetta | |
| dc.creator | Cherchi, Elisabetta | |
| dc.creator | Ferrini, Silvia | |
| dc.date | 2017-04-01T13:58:56Z | |
| dc.date.accessioned | 2026-07-09T04:31:51Z | |
| dc.description | This study adopts a discrete choice modelling methodology to evaluate individuals’ preferences over planning alternatives for an urban site of environmental interest. Since such projects involve some uncertainty and irreversibility, a special attention is devoted to the estimation of the quasi-option values which are associated to project development. Two distinct measures for the quasi-option value are estimated, and both coefficients indicate that the public places a significant value on reduction of the possibility of adverse irreversible effects: a more prudent development strategy is valued about four times more than a procedure that provides a lesser hedge against undesired outcomes. Furthermore, the study involved elicitation of intertemporal preferences over projects with different time spans, and estimation of the implicit discount rates: the values obtained seem high if compared to standard discount rates applied to public projects, but not far from current interest rates on consumption. | |
| dc.identifier | doi:10.22004/ag.econ.42903 | |
| dc.identifier | https://ageconsearch.umn.edu/record/42903/files/63-08.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/42903 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/551264 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/42903 | |
| dc.title | A Choice Modelling Approach for Assessment of Use and Quasi-Option Values in Urban Planning for Areas of Environmental Interest | |
| dc.type | Text |