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Measuring Values of Extramarket Goods: Are Indirect Measures Biased?
Open accessAbstract
The well known travel cost method (TC)has been widely applied to outdoor recreation. A second approach has been referred to in the past as the Davis method, the questionnaire approach, and contingent valuation. It will here be termed hypothetical valuation (HV), since it involves creating a hypothetical situation designed to elicit willingness to pay for or willingness to accept compensation for a recreational or other extramarket good (or bad). TC and HV are termed "indirect methods", since they do not depend on the direct information about prices and quantities that economists would prefer to use where available to value goods and services.
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Citations
Cited by
Contingent Valuation: Is Some Number Better than No Number?
Diamond, P. A., & Hausman, J. A. (1994) · Journal of Economic Perspectives · doi:10.1257/jep.8.4.45 · Cited by 1,894
Statistical Efficiency of Double‐Bounded Dichotomous Choice Contingent Valuation
Hanemann, M., Loomis, J., & Kanninen, B. (1991) · American Journal of Agricultural Economics · doi:10.2307/1242453 · Cited by 1,824
Valuing the Environment Through Contingent Valuation
Hanemann, W. M. (1994) · Journal of Economic Perspectives · doi:10.1257/jep.8.4.19 · Cited by 1,640
The Contingent Valuation Debate: Why Economists Should Care
Portney, P. R. (1994) · Journal of Economic Perspectives · doi:10.1257/jep.8.4.3 · Cited by 852
McFadden, D., Machina, M. J., & Baron, J. (1999) · Elicitation of Preferences · doi:10.1007/978-94-017-1406-8_4 · Cited by 560
Metadata
- Authors
- Bishop, R. C., & Heberlein, T. A.
- Venue
- American Journal of Agricultural Economics
- Publisher
- Wiley
- Published
- 1979-12
- Volume
- 61
- Issue
- 5
- Pages
- 926-930
- ISSN
- 0002-9092 (ISSN-L)
- 1467-8276
- OpenAlex
- W2076350452
- Cited by
- 1,175
- References
- 0
- FWCI
- 22.69
- Type
- journal article
- Language
- en
- Open access
- green
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