Non-Market Valuation and the Household




V. Kerry Smith
Department of Economics
Duke University 
Durham, NC  27708
and
Resources for the Future
1616 P. Street, N.W.
Washington, D.C.  20036


George Van Houtven
Center for Economic Research
Research Triangle Institute
P.O. Box 12194
Research Triangle Park, NC  27709




















Non-Market Valuation and the Household

V. Kerry Smith and George Van Houtven


(Abstract)


	The purpose of this paper is to describe the implications of the collective model of household behavior for the methods used to estimate the economic value of non-marketed environmental resources.  The effects of public good and risk are considered, along with revealed and stated preference methods.  To the extent the collective framework is adopted, then recover of individual preferences from household behavior requires distinguishing how preference and within household income allocations affect choices.


Key words:  Benefit estimation, household behavior, collective model


JEL Classification Nos:  Q20, H40