Valuation of tropical rainforests: philosophical and practical issues in the use of contingent valuation

This paper explores the possibility of using a large scale multi-country contingent valuation study for making decisions concerning global resources in the specific context of valuing a large set of tropical rainforests. Before considering the practical issues involved in implementing such a study, the paper addresses philosophical issues related to the use of contingent valuation including the role of passive use motives such as altruism and the role of information. The implications of empirically based criticisms which argue that contingent valuation results are unreliable are also considered. The main portion of the paper sketches the practical difficulties likely to be encountered in actually implementing a large contingent valuation study in multiple countries which seeks to value a common set of tropical rainforests. Some key study design choices are discussed. © 1998 Elsevier Science B.V.