Public economics

Finance

Positive economics

Perspective (graphical)

Sociology

Relevance (law)

Valuation (finance)

Revealed preference

Welfare

Political science

Econometrics

Artificial intelligence

Economics

Microeconomics

Anthropology

Programming language

Willingness to pay

Contingent valuation

Computer science

Interpretation (philosophy)

Preference

Typology

Market economy

Environmental and Resource Economics

An expanding literature addresses spatial dimensions related to the elicitation, estimation, interpretation and aggregation of stated preference (SP) welfare measures. Recognizing the relevance of spatial dimensions for SP welfare analysis and the breadth of associated scholarly work, this article reviews the primary methods, findings, controversies and frontiers in this important area of contemporary research. This review is grounded in a typology that characterizes analytical methods based on theoretical foundations and the type of statistical modelling applied. The resulting interpretive appraisal seeks to (1) summarize and contrast different theoretical arguments and points of departure within the spatial SP literature, (2) synthesize findings, insights and methods from the literature to promote a more holistic perspective on the treatment of spatial dimensions within SP welfare analysis, (3) evaluate and reconcile divergent approaches in terms of theoretical grounding, ability to identify relevant empirical effects, and relevance for SP valuation, and (4) discuss outstanding questions and research frontiers.

Spatial Dimensions of Stated Preference Valuation in Environmental and Resource Economics: Methods, Trends and Challenges