@techreport{Strazzera2008choice,
abstract = {This study adopts a discrete choice modelling methodology to evaluate individuals' preferences over planning alternatives for an urban site of environmental interest. Since such projects involve some uncertainty and irreversibility, a special attention is devoted to the estimation of the quasi-option values which are associated to project development. Two distinct measures for the quasi-option value are estimated, and both coefficients indicate that the public places a significant value on reduction of the possibility of adverse irreversible effects: a more prudent development strategy is valued about four times more than a procedure that provides a lesser hedge against undesired outcomes. Furthermore, the study involved elicitation of intertemporal preferences over projects with different time spans, and estimation of the implicit discount rates: the values obtained seem high if compared to standard discount rates applied to public projects, but not far from current interest rates on consumption.},
address = {Milano},
author = {Elisabetta Strazzera and Elisabetta Cherchi and Silvia Ferrini},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C35; Q51; R41; 330; Urban Planning; Environmental Values; Choice Modelling; Use Values; Quasi-option Values; Discounting},
language = {eng},
number = {63.2008},
publisher = {Fondazione Eni Enrico Mattei},
title = {A choice modelling approach for assessment of use and quasi-option values in urban planning for areas of environmental interest},
type = {Nota di lavoro // Fondazione Eni Enrico Mattei: Sustainable development},
url = {http://hdl.handle.net/10419/53247},
year = {2008}
}
