ECON ­3316(3), Section 001 Cost ­Benefit Analysis & Program Evaluation

| September 29, 2018

Structured
Class Discussion 1
Instruction:
Read the Loomis, Kent, Strange, Fausch, and
Covich article in preparation for an open class discussion on May 28/June 2 [as
per class pace]. Use the questions below to guide your preparation. Additional
reading on unfamiliar terms is required.
Chapter 9: Existence Value and Chapter 15: Contingent Valuation of
Boardman et al are good starting points. See also posted lecture notes for
these chapters.
·
What is total economic value?
·
What is the
policy/project/proposal being evaluated?
o
Why did they use an
interdisciplinary approach?
o
Who were the target/study
group?
·
What are ecosystem services?
·
How are ecosystem services like
public goods?
·
What are the mechanisms for
restoring services?
·
What is controversial about
valuing ecosystem services?
o
What is the problem of not
valuing?
o
How is double counting a
problem?
·
What are the available
valuation techniques?
o
Differentiate between those
valuation methods
·
What is meant by existence
values, bequest values, non-use values, passive use values?
·
What are the main steps in
survey design for contingent valuation?
o
What validity and reliability
issues are related to contingent valuation?
§ How does pretesting help? How do focus groups factor in? Estimating
existence and bequest values?
·
What data collection method was
used to assess WTP, economic benefits?
o
How appropriate was the sample
size and response rates?
·
What are the implications for
generalizing to the population?
·
How is WTP worded?
o
Does the wording matter? Why?
o
Importance of authentic/real
hypothetical scenario?
o
What is the value of using
charts, diagrams?
·
How is WTP modelled?
·
What were some of the statistical
results?
·
What did the research uncover
about how different groups valued ecosystem resources?
·
How were economic benefits
estimated? Generalized?
·
What is the appropriate
decision rule given the estimated WTP?
·
Was there sufficient evidence
to implement the policy?

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