Waiting or acting now? The effect on willingness-to-pay of delivering inherent uncertainty information in choice experiments.

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dc.contributor.author Torres Figuerola, Catalina Maria
dc.contributor.author Faccioli, Michela
dc.contributor.author Riera Font, Antoni
dc.date.accessioned 2018-10-26T16:42:05Z
dc.identifier.uri http://hdl.handle.net/11201/148303
dc.description.abstract This paper analyzes the effect of inherent uncertainty on the willingness-to-pay (WTP) for a policy aimed at reducing expected climate change impacts. To do this, it relates outcome uncertainty to the probability of occurrence of one of these impacts within a given time horizon. Unlike the existing studies, this paper links outcome uncertainty to the uncontrollable component of environmental uncertainty derived fromthe stochastic nature of an ecosystem's behavior. Results show that the WTP for the policy in the presence of uncertainty does not decrease compared to the scenario where climate change impacts are assumed to occur with certainty. This suggests individuals are adopting a precautionary attitudewhen stating theirWTP. Thus, the paper provides economic justification for preventive measures in highly uncertain contexts. However, findings are not conclusive with respect to the influence of the degree of uncertainty on the support for such measures.
dc.format application/pdf
dc.relation.isformatof Versió postprint del document publicat a: https://doi.org/10.1016/j.ecolecon.2016.09.001
dc.relation.ispartof Ecological Economics, 2017, vol. 131, p. 231-240
dc.subject.classification 332 - Economia regional i territorial. Economia del sòl i de la vivenda
dc.subject.classification 574 - Ecologia general i biodiversitat
dc.subject.classification Medi ambient
dc.subject.classification 502 - Natura. Estudi, conservació i protecció de la natura
dc.subject.other 332 - Economía regional y territorial. Economía del suelo y de la vivienda
dc.subject.other 574 - General ecology and biodiversity Biocoenology. Hydrobiology. Biogeography
dc.subject.other Environment
dc.subject.other 502 - The environment and its protection
dc.title Waiting or acting now? The effect on willingness-to-pay of delivering inherent uncertainty information in choice experiments.
dc.type info:eu-repo/semantics/article
dc.type info:eu-repo/semantics/acceptedVersion
dc.date.updated 2018-10-26T16:42:05Z
dc.date.embargoEndDate info:eu-repo/date/embargoEnd/2075-01-01
dc.embargo 2075-01-01
dc.subject.keywords Preference analysis
dc.subject.keywords Inherent uncertainty
dc.subject.keywords Choice experiment
dc.subject.keywords climate change
dc.subject.keywords Precautionary principle
dc.rights.accessRights info:eu-repo/semantics/embargoedAccess
dc.identifier.doi https://doi.org/10.1016/j.ecolecon.2016.09.001

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