Arbeitspapier
The life satisfaction approach to environmental valuation
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.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 4478
- 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
cost-benefit analysis
air pollution
Umweltbelastung
Umweltschutz
Kosten-Nutzen-Analyse
Lebenszufriedenheit
Lebensqualität
Willingness to pay
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Frey, Bruno S.
Luechinger, Simon
Stutzer, Alois
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2009
- Handle
- URN
-
urn:nbn:de:101:1-20091019279
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Frey, Bruno S.
- Luechinger, Simon
- Stutzer, Alois
- Institute for the Study of Labor (IZA)
Entstanden
- 2009
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