In seeking to value environmental amenities and public goods, individuals often have trouble trading off the
(vague) amenity or good against a monetary measure. Valuation in these circumstances can best be described as fuzzy—both in terms of the amenity valued, perceptions of property rights, and the numbers chosen to reflect values. In this paper, we review three approaches to fuzzy valuation, and compare results from fuzzy valuation with those obtained using usual techniques of valuation.
Keywords: fuzzy set theory; contingent valuation method; pairwise comparisons
van Kooten, C.G. and E. Krcmar. Fuzzy Logic and Non-market Valuation: A Comparison of Methods. In: Microbehavior and Macroresults: Proceedings of the Tenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 10-14, 2000, Corvallis, Oregon, USA. Compiled by Richard S. Johnston and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2001.