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Is the value of an environmental public good sensitive to the providing institution?

Lookup NU author(s): Dr Kyriaki Remoundou

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Abstract

In this paper we examine whether stated preferences and Willingness To Pay estimates, obtained in a choice experiment, are sensitive to the institutional context in which the good under evaluation is provided. Specifically, we examine the effects on valuation from employing two different institutions, an authority under the supervision of the National government and an authority under the supervision of an international body, the European Commission, as responsible for the design and implementation of a forest restoration project following a split sample approach. We find that coefficients of the utility model and Willingness To Pay estimates for all attributes are not statistically different between the two treatments. This is so despite the significant differences in the trust levels reported for the two institutions. We speculate that our results reflect the significance of the environmental good to the citizens given its local nature and the sheer size of the fire disaster.

Publication metadata

Author(s): Remoundou K, Kountouris Y, Koundouri P

Publication type: Article

Publication status: Published

Journal: Resource and Energy Economics

Year: 2012

Volume: 34

Issue: 3

Pages: 381-395

Print publication date: 07/04/2012

ISSN (print): 0928-7655

ISSN (electronic): 1873-0221

Publisher: Elsevier BV

URL: http://dx.doi.org/10.1016/j.reseneeco.2012.03.002

DOI: 10.1016/j.reseneeco.2012.03.002

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