Environmental valuation analysis, public deliberation, and their pragmaticsyntheses: a critical appraisal

This paper explores how theoretical, practical and political issues are add ressed differently by cost-benefit analysis and deliberative-participatory approaches to environmental policy. Theoretically rigorous approaches may p rove to be too narrowly defined and so unsuitable because they neglect the requirements of practical implementation. Yet pragmatism which flaunts theo retical understanding lacks analytical power and can mislead policy. How ec onomic methods, such as contingent valuation, compare with those from polit ical science, such as citizens' juries, is an open question which we attemp t to address. In addition, the new hybrid approach of deliberative monetary valuation is critically reviewed. A comparison of these approaches is made which draws out the difficulties of developing practical policy tools whic h are theoretically grounded and avoid political manipulation.