By Richard C. Bishop,Donato Romano
Why leave from well-established revealed-preference techniques and observe a `stated-preference' strategy like CVM? For nonmarket items and companies, revealed-preference tools have shortcomings that these utilising CVM wish to prevent. First, revealed-preference equipment contain econometric difficulties that experience but to be totally triumph over. the second one shortcoming of revealed-preference tools is that such equipment, while utilized to environmental facilities, usually are in simple terms partial measures of worth.
Given the super curiosity that exists in financial values and the barriers of revealed-preference tools, it's not extraordinary that curiosity in CVM has grown swiftly. Environmental source Valuation reports the appliance of CVM and compares American reviews in nonmarket evaluate with these in different countries.
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Extra resources for Environmental Resource Valuation: Applications of the Contingent Valuation Method in Italy (Studies in Risk and Uncertainty)
Environmental Resource Valuation: Applications of the Contingent Valuation Method in Italy (Studies in Risk and Uncertainty) by Richard C. Bishop,Donato Romano