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The Globalization of Cost-Benefit Analysis in Environmental Policy$
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Michael A. Livermore and Richard L. Revesz

Print publication date: 2013

Print ISBN-13: 9780199934386

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199934386.001.0001

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Cost-Benefit Analysis in Developing Countries: What’s Different?

Cost-Benefit Analysis in Developing Countries: What’s Different?

Chapter:
(p.19) 2 Cost-Benefit Analysis in Developing Countries: What’s Different?
Source:
The Globalization of Cost-Benefit Analysis in Environmental Policy
Author(s):

Euston Quah

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199934386.003.0002

Valuation of health and mortality risks, environmental services, and other nonmarket goods are essential to cost-benefit analysis. But in developing countries, persistent market distortions may undermine the techniques typically used for valuation, which aim to devise monetary values for nonmarket goods using individual preferences. This chapter explores how different valuation techniques hold up where features such as disguised unemployment or exploitive finance obscure market valuation. After surveying a range of proposed methods, the chapter argues that the paired comparison approach, which is a relatively recent innovation in the design of surveys to elicit individual preferences, has important advantages in developing countries over both traditional contingent valuation approaches and revealed preference studies.

Keywords:   valuation, paired comparison approach, contingent valuation, developing countries, market distortions, paired comparison

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