Using Choice Experiments for Non-Market Valuation
Francisco Alpizar Rodriguez (),
Fredrik Carlsson () and
No 52, Working Papers in Economics from University of Gothenburg, Department of Economics
This paper provides the latest research developments in the method of choice experiments applied to valuation of non-market goods. Choice experiments, along with the, by now, well-known contingent valuation method, are very important tools for valuing non-market goods and the results are used in both cost-benefit analyses and litigations related to damage assessments. The paper should provide the reader with both the means to carry out a choice experiment and to conduct a detailed critical analysis of its performance in order to give informed advice about the results. A discussion of the underlying economic model of choice experiments is incorporated, as well as a presentation of econometric models consistent with economic theory. Furthermore, a detailed discussion on the development of a choice experiment is provided, which in particular focuses on the design of the experiment and tests of validity. Finally, a discussion on different ways to calculate welfare effects is presented.
Keywords: Choice experiments; non- market goods; stated preference methods; valuation (search for similar items in EconPapers)
JEL-codes: D61 H41 Q20 (search for similar items in EconPapers)
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Published as Alpizar, Francisco, Fredrik Carlsson and Peter Martinsson, 'Using Choice Experiments for Non-Market Valuation' in Economic Issues, 2003, pages 83-110.
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Journal Article: Using Choice Experiments for Non-Market Valuation (2003)
Working Paper: Using Choice Experiments for Non-Market Valuation (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:gunwpe:0052
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