Teleological Presuppositions,and the 'Expectation Gap': A Response to Laura Westra

Abstract

In her paper 'The disvalue of “contingent valuation” and the problem of the “expectation gap'” Laura Westra declares her intention to provide a new critical perspective on contingent valuation.¹ I want to begin by saying why her new perspective seems important, and how I see it relating to previous work in the area. I then want to focus on the most innovative aspect of her paper: her claim that there exists an 'expectation gap' between legitimate public expectations concerning the use of contingent valuation in risk assessments, and the practical reality, which parallels the accounting 'expectation gap' identified by the American Institute of Certified Public Accountants (AICPA).² What particularly concerns me here is her portrayal of 'just and objective risk assessments' as if they were closely analogous to accountants' reports on the financial dealings of corporations.