Abstract
Recently, economists have assessed the state of art in contingent valuation. While this assessment has answered some questions, it has identified new ones. This chapter highlights our interpretation of the key contingent valuation issues. This interpretation is important for understanding the motives behind the development of our survey questionnaire. It also provides additional perspective for the empirical results that also are presented in this chapter. Before describing the empirical results, we discuss a technique for identifying influential observations in the survey data, which is becoming an important empirical issue in contingent valuation studies.
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Smith, V.K., Desvousges, W.H. (1986). Contingent Valuation Design and Results: Option Price and Use Values. In: Measuring Water Quality Benefits. International Series in Economic Modeling, vol 3. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-4223-3_4
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DOI: https://doi.org/10.1007/978-94-009-4223-3_4
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