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The Life Satisfaction Approach to Environmental Valuation

Frey, Bruno S. and Luechinger, Simon and Stutzer, Alois. (2009) The Life Satisfaction Approach to Environmental Valuation. WWZ Discussion Papers, 2009 (07). Basel.

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Official URL: http://edoc.unibas.ch/dok/A5253406

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Abstract

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.
Faculties and Departments:06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Politische Ökonomie (Stutzer)
12 Special Collections > WWZ Publications > WWZ Discussion Papers and Working Papers
UniBasel Contributors:Stutzer, Alois
Item Type:Working Paper
Bibsysno:Link to catalogue
Publisher:WWZ
Note: -- Publication type according to Uni Basel Research Database: Discussion paper / Internet publication
Language:English
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Identification Number:
  • handle: RePEc:bsl:wpaper:2009/07
Last Modified:13 Mar 2018 14:32
Deposited On:08 Jun 2012 06:45

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