Journal
PRAGUE ECONOMIC PAPERS
Volume 19, Issue 4, Pages 329-343Publisher
UNIV ECONOMICS-PRAGUE
DOI: 10.18267/j.pep.380
Keywords
economic valuation; stated preference information
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This paper summarizes the long history of the contingent valuation method, stressing the important dates and events that influenced its economic applications. It reviews the economic theory of contingent valuation, highlights the related survey design, alludes to the econometrics methodology involved and discusses the validity and reliability of this method. In summary, this paper presents the state of the art of a method that has been applied in the economic valuation of natural resources for many decades.
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