Abstract Contingent valuation surveys in which respondents state their willingness to pay
(WTP) for public goods are coming into use in cost-benefit analyses and in litigation over
environmental losses. The validity of the method is brought into question by several ...

The first study in a recent paper by Kahneman and Knetsch (KK) demonstrates two different
embedding effects in a set of data collected using the contingent valuation method [1]. K
maintain that the existence of these effects contradicts the usual interpretation of ...

Abstract: In recent years there has been a debate over whether or not moral sentiments
should be included in normative economic analysis. This paper compares the standard
normative criteria for benefit cost analysis, Kaldor-Hicks, that does not include moral ...

... 19; D. Kahneman, JL Knetsch; Valuing public goods: The purchase of moral satisfaction. Journal
of Environmental Economics and Management, 22 (1992), pp. 57–70. ...

... 3. D. Kahneman and JL Knetsch, Valuing public goods: The purchase of moral satisfaction, J.
Enuiron. Econom. Management 22, 57-70 (1992). ... 147–184. 3. D Kahneman, JL Knetsch. Valuing
public goods: The purchase of moral satisfaction. J. Enuiron. Econom. ...

... The findings suggest that contingent valuation may be applied to such animal welfare issues
but that studies need to formally address the associated problems of embeddedness, purchase
of moral satisfaction and failure of respondents to adequately consider substitute and ...

... Results of a pilot study, Working Paper T-9702, Triangle Economic Research, 1997.
24; D. Kahneman, J. Knetsch; Valuing public goods: The purchase of moral satisfaction.
J. Environ. Econom. Management, 22 (1992), pp. 57–70. ...

... Studies on organic food suggest that consumers do not usually see purchase of organic food
as a moral imperative, and thus do not feel guilty for choosing a ... Our measure of moral attitude
reflects the anticipated positive feelings of self-satisfaction about acting in a ...

... Kahneman, D., and Knetsch, J." Valuing Public Goods: The Purchase of Moral Satisfaction."
Journal of Environmental Economics and Management, 1992, 22, 57-70. ... Nickerson, CAE"
Does Willingness-to-Pay Reflect the Purchase of Moral Satisfaction? ...

... collective will also be contributing. Thus, the WtP estimate is not analogous to an actual
price used in an individual purchase decision but the purchase of moral satisfaction
as part of a collec- tive. In this case, an individual recognizes ...