Value of Improved Information about Forest Protection Values, with Application to Rainforest Valuation (Record no. 28254)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02852cam a22003854a 4500 |
| 001 - CONTROL NUMBER | |
| control field | 7423 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | The World Bank |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20181114094103.0 |
| 006 - FIXED-LENGTH DATA ELEMENTS--ADDITIONAL MATERIAL CHARACTERISTICS--GENERAL INFORMATION | |
| fixed length control field | m d |
| 007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION | |
| fixed length control field | cr cn||||||||| |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 020129s2015 dcu o i00 0 eng |
| 024 8# - OTHER STANDARD IDENTIFIER | |
| Standard number or code | 10.1596/1813-9450-7423 |
| 035 ## - SYSTEM CONTROL NUMBER | |
| System control number | (The World Bank)7423 |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Strand, Jon |
| 245 10 - TITLE STATEMENT | |
| Title | Value of Improved Information about Forest Protection Values, with Application to Rainforest Valuation |
| Medium | [electronic resource] / |
| Statement of responsibility, etc | Strand, Jon. |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Washington, D.C. : |
| Name of publisher, distributor, etc | The World Bank, |
| Date of publication, distribution, etc | 2015. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 1 online resource (38 p.) |
| 520 3# - SUMMARY, ETC. | |
| Summary, etc | What is the utility from obtaining more precise values of natural resource objects (rainforests), through surveys or other similar information gathering? In the value of information problems studied here, a principal who wishes to preserve a resource sets a price to offer to a seller without knowing precisely the protection value or opportunity value, to the seller. The value of information related to more precise information about the protection value for the principal is a key issue in environmental and natural resource valuation, but it is in most cases implicit and not analyzed. More precise resource values reduce the frequency of two types of mistakes (saving the resource when it should not be saved, and not saving the resource when it should be saved), and increases the principal's ex ante expected utility value. This paper applies the model to Amazon rainforest protection and considers the hypothetical value of perfect information. The analysis finds that the value of perfect information can easily exceed realistic information costs, thus perhaps justifying significant expenditures for valuation studies, given that all available information is used efficiently for conservation decision purposes. The value of perfect information also depends on the nature of buyer-seller interactions, and is higher in the altruistic case, where the principal has full concern for the outcome for the seller. |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Asymmetric information |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Bayesian analysis |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Economic theory & research |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Environment |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Environmental economics & policies |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Labor policies |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Macroeconomics and economic growth |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Natural resource valuation |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Rainforests |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Social protections and labor |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Value of information |
| 700 1# - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Siddiqui, Sauleh |
| 700 1# - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Strand, Jon |
| 776 18 - ADDITIONAL PHYSICAL FORM ENTRY | |
| Main entry heading | Print Version: |
| Display text | Strand, Jon |
| Title | Value of Improved Information about Forest Protection Values, with Application to Rainforest Valuation |
| Place, publisher, and date of publication | Washington, D.C. : The World Bank, 2015 |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | Policy research working papers. |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | World Bank e-Library. |
| 856 40 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-7423">http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-7423</a> |
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