WASHINGTON & LEE UNIVERSITY
Williams School of Commerce, Economics, and Politics
ECONOMICS 395: Economic Values and the Environment in Developing Countries
Professor Jim Casey
Rm. 205B, Ext. 8102
Email: Caseyj
Background Reading:
“Valuing the Environment for Environmental Decision Making” – James R. Kahn Ch.4, pp. 87-127.
WEEK 1
April 22 – Overall objective and expectations
Reading and Writing scientific papers
Discussion of Background Reading
April 24 – The
Contingent Valuation Method (CVM)
The Travel Cost Method (TCM)
http://www.ocean.udel.edu/level1/facultystaff/faculty/gparsons/ParsonsTravelCostText.pdf
Contingent Valuation: A User's Guide
April 25 - 3:30, Science Center, A-214 Gary S. Fields
WEEK 2
April 29 – More CVM
http://www.econ.ucsd.edu/~rcarson/cvconfinal.pdf
Applications of the contingent valuation method in developing countries
May 1 – More TCM
"International Ecotourism and the Valuation of Tropical Rainforests in Costa Rica." Menkhaus and Lober, Journal of Environmental Management. 1996.JEM 1995
"Valuing Ecotourism in Madagascar." Maille and Mendelsohn, Journal of Environmental management. 1993. JEM 1993
WEEK 3
May 6 – More on CVM
http://www.rff.org/CFDOCS/disc_papers/PDF_files/9620.pdf
http://personal.ecu.edu/whiteheadj/papers/sea00.pdf
May 8 –
1) regression review
2) Logit and Probit
May 9 – Bruce Johnsen - Williams School 327, 1:00 - GeneticSelection.doc
Literature Reviews are due
WEEK 4 - UPDATES IN RED!!
May 13 – No Class
May 15 – 1) regression review, 2) Logit Logistic Regression
WEEK 5
May 20 – 1) 90 minute exam 2) DATA Analysis
Valuing Environmental and Natural Resources
May 22 – NO Class Today!!
WEEK 6
May 27 – Presenting results - The Potential for Alternative Tourism.ppt
Willingness-to-Pay for safe,.ppt
Requirements:
Individual Literature Review: 25%
Group Paper: 25%
Group Presentation: 25%
Class Participation: 10%
Exam: 15%
Travel Cost Team (4) Brian, Eden, Joe - 2003395\caseychetumal.xls
Ascending Bid CV Team (3) Katy, Heather, Andrew - 2003395\ABCV.xls
Descending Bid CV Team (4) David, Haile, Ned - 2003395\DBCV.xls
Open-ended CV Team (4) Laurence, Mack, Jenny, Cynthia - 2003395\openendedCV.xls
Augmented Open-ended CV Team (4) Hayes, Nancy, Damien, Emma - 2003395\PreOECV.xls
More to read
“The Contingent Valuation Debate: Why Economists Should Care.” – Paul R. Portney, The Journal of Economic Perspectives, Fall 1994, pp. 3-17.
“Valuing the Environment through Contingent Valuation.” – W. Michael Hanemenn, The Journal of Economic Perspectives, Fall 1994, pp. 19-43.
“Contingent Valuation: Is Some Number Better than No number?” – Peter A. Diamond & Jerry A. Hausman, The Journal of Economic Perspectives, Fall 1994, pp. 45-64.
WEBSITES of INTEREST
www.cbl.cees.edu/~dkingweb/contingent_valuation.htm
http://www.ers.usda.gov/publications/summaries/AER752.HTM