Construct validity of averting cost measures of environmental benefits

Andrew S. Laughland, Wesley N. Musser, James S. Shortle, Lynn M. Musser

Research output: Contribution to journalArticle

32 Scopus citations

Abstract

Construct validity is concerned with the consistency of empirical measures with theoretical relationships. This paper reviews and extends the theoretical relationship between averting costs and willingness to pay. Measures of these two theoretical constructs with empirical averting costs savings and contingent valuation from one population are used to establish construct validity of the averting cost technique used. Empirical results indicate that the contingent valuation and averting costs measures have a low correlation. Although low correlation is consistent with the construct validity of averting costs measures, these results indicate that inferences from averting cost measures are quite limited.

Original languageEnglish (US)
Pages (from-to)100-112
Number of pages13
JournalLand Economics
Volume72
Issue number1
DOIs
StatePublished - Feb 1996

All Science Journal Classification (ASJC) codes

  • Environmental Science (miscellaneous)
  • Economics and Econometrics

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