Quotation Lo, Yu Hong, Spash, Clive L. 2013. Deliberative monetary valuation: In search of a democratic and value plural approach to environmental policy. Journal of Economic Surveys 27 (4), 768-789.




The use of deliberative methods to assess environmental values in monetary terms has been motivated by the potential for small group discussion to help with preference formation and the inclusion of non-economic values. In this review, two broad approaches are identified: preference economisation and preference moralisation. The former is analytical, concentrates upon issues of poor respondent cognition and produces a narrow conception of value linked to utilitarianism. The latter emphasises political legitimacy, appeals to community values and tends to privilege arguments made in the public interest. Both approaches are shown to embrace forms of value convergence, which undermine the prospects for value pluralism. As a result exclusion and predefinition of values dominates current practice. In order to maintain democratic credentials, the importance attributed to monetary value needs to be left as an open question to be addressed as part of a process determining an “agreement to pay”. To this end we identify a discourse-based approach as a third way consistent with the democratic and value plural potential of deliberative monetary valuation.


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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Journal of Economic Surveys
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new VW-C
Language English
Title Deliberative monetary valuation: In search of a democratic and value plural approach to environmental policy
Volume 27
Number 4
Year 2013
Page from 768
Page to 789
Reviewed? Y
URL http://onlinelibrary.wiley.com/doi/10.1111/j.1467-6419.2011.00718.x/abstract
DOI http://dx.doi.org/10.1111/j.1467-6419.2011.00718.x


Lo, Yu Hong (Former researcher)
Spash, Clive L. (Details)
Institute for Multi-Level Governance and Development IN (Details)
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