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- Embedding_effect abstract "The embedding effect is an issue in environmental economics and other branches of economics where researchers wish to identify the value of a specific public good using a contingent valuation or willingness-to-pay (WTP) approach. (Public goods are those goods and benefits which belong to society as a whole). The results can be unreliable and misleading because of the difficulty, for individual society members, of identifying the particular value that they attach to one particular thing which is embedded in a collection of similar things (e.g. The Tower of London within the set of all globally important historic monuments or Caernarvon Castle within the set of all Welsh Scheduled Monuments) or when embedded within choices between a wider selection of public goods (for example whether spending on preserving a specific wetland is more important than preserving a specific persons life for the next two years using taxpayers' money). The effect suggests the contingent valuation method is not an unbiased approach to measuring policy impacts for cost-benefit analysis of environmental, and other government, policies. Few government policies are independent of any other governmental policy. Most policies involve either substitute or complementary relationships with others at either the same or different intergovernmental level. For example, the protection of coastal water quality is a goal of both state and multiple federal agencies. The Clean Water Act, wetlands protection programs, and fisheries management plans all address coastal water quality. These policies may be substitutes or complements for each other. These relationships complicate the application of the contingent valuation method. The resulting problems that may be encountered have been called the part-whole bias and sequencing and nesting (see below).One method of overcoming some aspects of this problem is to ask two questions (1) How much would you be willing to contribute to a specific tax fund for the whole set of items to be preserved? (e.g. all Coral Sea areas west of Australia) followed by (2) How much would of this would you like to give to the preservation of the specific named item? (e.g. the Great Barrier Reef). These questions may also be supplemented by questions which ask about the respective importance of alternatives e.g. whether the preservation of the Great Barrier Reef is more/the same/less important than other public goods such as poor relief, health care, education etc.".
- Embedding_effect wikiPageID "2288809".
- Embedding_effect wikiPageLength "4837".
- Embedding_effect wikiPageOutDegree "14".
- Embedding_effect wikiPageRevisionID "688847902".
- Embedding_effect wikiPageWikiLink Category:Environmental_economics.
- Embedding_effect wikiPageWikiLink Clean_Water_Act.
- Embedding_effect wikiPageWikiLink Coastal_water_quality.
- Embedding_effect wikiPageWikiLink Consumer_choice.
- Embedding_effect wikiPageWikiLink Contingent_valuation.
- Embedding_effect wikiPageWikiLink Cost–benefit_analysis.
- Embedding_effect wikiPageWikiLink Environmental_economics.
- Embedding_effect wikiPageWikiLink Fisheries_management_plan.
- Embedding_effect wikiPageWikiLink Nonsatiation_axiom.
- Embedding_effect wikiPageWikiLink Public_policy.
- Embedding_effect wikiPageWikiLink Wetlands_protection_program.
- Embedding_effect wikiPageWikiLink Wilderness_area.
- Embedding_effect wikiPageWikiLink Willingness_to_accept.
- Embedding_effect wikiPageWikiLinkText "Embedding effect".
- Embedding_effect wikiPageWikiLinkText "embedding effect".
- Embedding_effect wikiPageUsesTemplate Template:Context.
- Embedding_effect subject Category:Environmental_economics.
- Embedding_effect hypernym Issue.
- Embedding_effect type WrittenWork.
- Embedding_effect type Page.
- Embedding_effect comment "The embedding effect is an issue in environmental economics and other branches of economics where researchers wish to identify the value of a specific public good using a contingent valuation or willingness-to-pay (WTP) approach. (Public goods are those goods and benefits which belong to society as a whole).".
- Embedding_effect label "Embedding effect".
- Embedding_effect sameAs Q5370015.
- Embedding_effect sameAs m.0714kx.
- Embedding_effect sameAs Q5370015.
- Embedding_effect wasDerivedFrom Embedding_effect?oldid=688847902.
- Embedding_effect isPrimaryTopicOf Embedding_effect.