The Life Satisfaction Approach to Environmental Valuation

Arbeitspapier

In many countries environmental policies and regulations are implemented to improve environmental quality and thus individuals' well-being. However, how do individuals value the environment? In this paper, we review the Life Satisfaction Approach (LSA) representing a new non-market valuation technique. The LSA builds on the recent development of subjective well-being research in economics and takes measures of reported life satisfaction as an empirical approximation to individual welfare. Micro-econometric life satisfaction functions are estimated taking into account environmental conditions along with income and other covariates. The estimated coefficients for the environmental good and income can then be used to calculate the implicit willingness-to-pay for the environmental good.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: WWZ Discussion Paper ; No. 07/09

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Valuation of Environmental Effects ; General Welfare; Well-Being ; Allocative Efficiency; Cost-Benefit Analysis ; Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
• Thema: life satisfaction approach ; subjective well-being ; non-market valuation ; costbenefit analysis ; air pollution ; Umweltbelastung ; Umweltschutz ; Kosten-Nutzen-Analyse ; Zufriedenheit ; Lebensqualität ; Zahlungsbereitschaftsanalyse ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Frey, Bruno S. ; Luechinger, Simon ; Stutzer, Alois
• Ereignis: Veröffentlichung
• (wer): University of Basel, Center of Business and Economics (WWZ)
• (wo): Basel
• (wann): 2009

Weitere Informationen

• DOI: doi:10.5451/unibas-ep18340
• Handle: http://hdl.handle.net/10419/123397
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ