Choice modelling: assessing the environmental values of water supply options
نویسندگان
چکیده
Three criticisms of the contingent valuation method (CVM) are considered in this article. One technique that would appear to answer such criticisms is choice modelling (CM). CM permits value estimates for di¡erent goods sharing a common set of attributes to be pieced together using the results of a single multinomial (conditional) logit model. The CM approach to environmental value assessment is illustrated in the context of a consumer-based assessment of future water supply options in the Australian Capital Territory. CM is found to provide a £exible and cost-e¡ective method for estimating use and passive use values, particularly when several alternative proposals need to be considered.
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