Homo Economicus and Homo Politicus: interpretation and aggregation of environmental values

In addition to his role as a consumer pursuing his own interests, an indivi dual may also regard himself as an ethical observer or citizen, judging mat ters from society's point of view. However, an individual's personal prefer ences do not necessarily coincide with his social preferences, This paper p resents a formal model in which individuals are assumed to have two distinc t preference orderings: Personal well-being functions are applied in contex ts where the individual regards himself as a consumer, while subjective soc ial welfare functions are used when the citizen role is perceived as most r elevant, The paper discusses the implications for environmental valuation i f some respondents take on a citizen role when reporting their willingness to pay. (C) 2000 Elsevier Science B.V. All rights reserved. JEL classificat ion: D11; D61; H41; Q21.