A Theoretical Approach to Deliberative Valuation: Aggregation by Mutual Consent

Richard B. Howarth and Matthew A. Wilson

Abstract

In deliberative valuation, a small group of selected persons explores the values that should guide collective decisions through a process of reasoned discourse. Proponents argue that deliberative techniques enhance the effectiveness and perceived legitimacy of policy making by facilitating public participation. This paper outlines an approach to deliberative valuation that is grounded in democratic theory, social psychology, and cooperative game theory, emphasizing applications to the monetary valuation of environmental services. The analysis suggests that deliberative groups that employ consent-based choice rules may aggregate individual values in a manner that systematically departs from the additive aggregation procedures of standard cost-benefit analysis. (JEL Q20)

This article requires a subscription to view the full text. If you have a subscription you may use the login form below to view the article. Access to this article can also be purchased.

Purchase access

You may purchase access to this article. This will require you to create an account if you don't already have one.