Multi-attribute value measurement and economic paradigms in environmental decision making

Simple item page
dc.contributor.authorJoubert, Alison Ruthen_ZA
dc.date.accessioned2015-09-15T10:19:41Z
dc.date.available2015-09-15T10:19:41Z
dc.date.issued2002en_ZA
dc.descriptionBibliography: p. 219-228.en_ZA
dc.description.abstractThe two environmental decision-making approaches of environmental economics (EE) valuation and multi-criteria decision analysis (MCDA) differ fundamentally in their underlying philosophies and approach; hence they are characterised as paradigms. The EE paradigm includes the idea that, if appropriate prices can be found and implemented for goods not normally traded on the market, then the market mechanism will efficiently distribute resources and decisions are therefore based on the concepts of individual willingness to pay and consumer sovereignty. That an efficient market is not necessarily equitable or sustainable has long been acknowledged, but EE adjustments are subject to theoretical and methodological problems. The MCDA paradigm is based on the idea that values and preferences should be examined and constructed through interaction between workshop participants and the analyst, given basic measurement theory axioms. Various EE and MCDA methods have been devised for measuring value in different contexts, some of which were applied, in the context of environmental (particularly water resources) management, in six action research case studies. The EE methods were contingent behaviour valuation, the contingent valuation method, conjoint analysis and the travel cost method. The MCDA method was a version of the simple multi-attribute rating technique (called SMARTx). In the SMARTx cases, applying a group-value sharing model during a series of workshops, stakeholders rated the effect of alternatives on a number of environmental, social and economic attributes directly or using value functions and gave weights to criteria. Indirect compensatory values of one criterion in terms of another were determined. In the EE cases, survey respondents were asked their travel costs, preference for multi-attribute profiles and willingness to pay for alternatives. Total and average willingness to pay for an amenity, its attributes or changes in environmental quality were determined. The practical and theoretical implications of applying the different methods were examined and compared in terms of four metacriteria: resonance with and validity within the prevailing political and decision-context, general validity and reliability, ability to include equity and sustainability criteria and practicality.en_ZA
dc.identifier.apacitationJoubert, A. R. (2002). <i>Multi-attribute value measurement and economic paradigms in environmental decision making</i>. (Thesis). University of Cape Town ,Faculty of Science ,Department of Statistical Sciences. Retrieved from http://hdl.handle.net/11427/13955en_ZA
dc.identifier.chicagocitationJoubert, Alison Ruth. <i>"Multi-attribute value measurement and economic paradigms in environmental decision making."</i> Thesis., University of Cape Town ,Faculty of Science ,Department of Statistical Sciences, 2002. http://hdl.handle.net/11427/13955en_ZA
dc.identifier.citationJoubert, A. 2002. Multi-attribute value measurement and economic paradigms in environmental decision making. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Joubert, Alison Ruth AB - The two environmental decision-making approaches of environmental economics (EE) valuation and multi-criteria decision analysis (MCDA) differ fundamentally in their underlying philosophies and approach; hence they are characterised as paradigms. The EE paradigm includes the idea that, if appropriate prices can be found and implemented for goods not normally traded on the market, then the market mechanism will efficiently distribute resources and decisions are therefore based on the concepts of individual willingness to pay and consumer sovereignty. That an efficient market is not necessarily equitable or sustainable has long been acknowledged, but EE adjustments are subject to theoretical and methodological problems. The MCDA paradigm is based on the idea that values and preferences should be examined and constructed through interaction between workshop participants and the analyst, given basic measurement theory axioms. Various EE and MCDA methods have been devised for measuring value in different contexts, some of which were applied, in the context of environmental (particularly water resources) management, in six action research case studies. The EE methods were contingent behaviour valuation, the contingent valuation method, conjoint analysis and the travel cost method. The MCDA method was a version of the simple multi-attribute rating technique (called SMARTx). In the SMARTx cases, applying a group-value sharing model during a series of workshops, stakeholders rated the effect of alternatives on a number of environmental, social and economic attributes directly or using value functions and gave weights to criteria. Indirect compensatory values of one criterion in terms of another were determined. In the EE cases, survey respondents were asked their travel costs, preference for multi-attribute profiles and willingness to pay for alternatives. Total and average willingness to pay for an amenity, its attributes or changes in environmental quality were determined. The practical and theoretical implications of applying the different methods were examined and compared in terms of four metacriteria: resonance with and validity within the prevailing political and decision-context, general validity and reliability, ability to include equity and sustainability criteria and practicality. DA - 2002 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2002 T1 - Multi-attribute value measurement and economic paradigms in environmental decision making TI - Multi-attribute value measurement and economic paradigms in environmental decision making UR - http://hdl.handle.net/11427/13955 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/13955
dc.identifier.vancouvercitationJoubert AR. Multi-attribute value measurement and economic paradigms in environmental decision making. [Thesis]. University of Cape Town ,Faculty of Science ,Department of Statistical Sciences, 2002 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/13955en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentDepartment of Statistical Sciencesen_ZA
dc.publisher.facultyFaculty of Scienceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherStatistical Sciencesen_ZA
dc.titleMulti-attribute value measurement and economic paradigms in environmental decision makingen_ZA
dc.typeDoctoral Thesis
dc.type.qualificationlevelDoctoral
dc.type.qualificationnamePhDen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
thesis_sci_2002_joubert_ar.pdf
Size:
7.4 MB
Format:
Adobe Portable Document Format
Description:
Download
Collections
PhD / Doctoral