By Richard C. Bishop,Donato Romano
Why go away from well-established revealed-preference techniques and practice a `stated-preference' approach like CVM? For nonmarket items and providers, revealed-preference equipment have shortcomings that these employing CVM desire to prevent. First, revealed-preference equipment contain econometric difficulties that experience but to be absolutely triumph over. the second one shortcoming of revealed-preference tools is that such tools, while utilized to environmental facilities, usually are merely partial measures of worth.
Given the large curiosity that exists in monetary values and the barriers of revealed-preference tools, it's not stunning that curiosity in CVM has grown quickly. Environmental source Valuation experiences the applying of CVM and compares American stories in nonmarket evaluate with these in different countries.
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Environmental Resource Valuation: Applications of the Contingent Valuation Method in Italy (Studies in Risk and Uncertainty) by Richard C. Bishop,Donato Romano