Charles Kolstad
Valuing Environmental Goods and Services
The valuation of non-market goods is an important and active area of
research in environmental economics. I am currently involved in two
aspects of this problem. One is in attempting to further develop the
theory of contingent valuation from microeconomic principles. The main
avenue has been through auction theory, focusing on bidding behavior
with imperfect information and costly information acquisition. A
second aspect of my valuation research is in the area of intertemporal
substitution in demand for environmental goods. Specifically, if a
good is temporarily withheld (e.g., due to an accident), how do
consumers respond to that unavailability? To what extent do they
substitute across time to make up for the unavailability?
Kolstad Home Page at:
Economics /
Bren School
Economics Department Home Page /
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Created 24-Mar-97 by Catherine Dibble (updated 28-Jan-98)
(cath@econ.ucsb.edu)