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A stated preference model and a revealed preference model for recreational site choice are examined and compared. Both models are based on random utility theory and the data are obtained from the same individuals. The stated preference model is based on the respondent's choice from hypothetical...
Contingent valuation (CV) has been employed by economists for approximately 30 years to value changes in natural resources and environments. Estimating the value of resource improvements or damages is analogous to the problem in marketing research of estimating the demand for new products or...
Stated Preference Approaches for Measuring Passive Use Values: Choice Experiments versus Contingent ValuationDownload
The measurement of passive use values has become an important element of environmental economics over the past decade. Damage assessment cases in the U.S. and Canada have prompted considerable research activity in this area, yet the topic is quite controversial and debate over the theory and...