Journal
ENVIRONMENTAL SCIENCE & TECHNOLOGY
Volume 34, Issue 8, Pages 1413-1418Publisher
AMER CHEMICAL SOC
DOI: 10.1021/es990728j
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Contingent valuation (CV) is a survey-based method frequently used for placing monetary values on environmental goods and services not bought and sold in the marketplace. CV is usually the only feasible method for including passive-use considerations in an economic analysis, a practice that has engendered considerable controversy. The issue of what a CV study tries to value is first addressed from the perspective of a policy-maker, and then the controversy over the inclusion of passive-use is taken up in more detail. The major issues and positions taken in the technical debate over the use of CV are summarized from a user's perspective. Key design and implementation issues involved in undertaking a CV survey are examined, and the reader is provided with a set of factors to examine in assessing the quality of a CV study.
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