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  • Deliberative Monetary Valuation: In search of a Democratic and Value Plural Approach to Environmental Policy

    Author(s)
    Lo, Alex
    L. Spash, Clive
    Griffith University Author(s)
    Lo, Alex
    Year published
    2013
    Metadata
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    Abstract
    The use of deliberative methods to assess environmental values in monetary terms has been motivated by the potential for small group discussion to help with preference formation and the inclusion of non-economic values. In this review, two broad approaches are identified: preference economisation and preference moralisation. The former is analytical, concentrates upon issues of poor respondent cognition and produces a narrow conception of value linked to utilitarianism. The latter emphasises political legitimacy, appeals to community values and tends to privilege arguments made in the public interest. Both approaches are ...
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    The use of deliberative methods to assess environmental values in monetary terms has been motivated by the potential for small group discussion to help with preference formation and the inclusion of non-economic values. In this review, two broad approaches are identified: preference economisation and preference moralisation. The former is analytical, concentrates upon issues of poor respondent cognition and produces a narrow conception of value linked to utilitarianism. The latter emphasises political legitimacy, appeals to community values and tends to privilege arguments made in the public interest. Both approaches are shown to embrace forms of value convergence, which undermine the prospects for value pluralism. As a result exclusion and predefinition of values dominates current practice. In order to maintain democratic credentials, the importance attributed to monetary value needs to be left as an open question to be addressed as part of a process determining an "agreement to pay". To this end we identify a discourse-based approach as a third way consistent with the democratic and value plural potential of deliberative monetary valuation.
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    Journal Title
    Journal of Economic Surveys
    Volume
    27
    Issue
    4
    DOI
    https://doi.org/10.1111/j.1467-6419.2011.00718.x
    Subject
    Ecological Economics
    Applied Economics
    Econometrics
    Publication URI
    http://hdl.handle.net/10072/54272
    Collection
    • Journal articles

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