This is a practical book with clear descriptions of the most commonly used nonmarket methods. The first chapters of the book provide the context and theoretical foundation of nonmarket valuation along with a discussion of data collection procedures. The middle chapters describe the major stated- and revealed-preference valuation methods. For each method, the steps involved in implementation are laid out and carefully explained with supporting references from the published literature. The final chapters of the book examine the relevance of experimentation to economic valuation, the transfer of existing nonmarket values to new settings, and assessments of the reliability and validity of nonmarket values.
A Primer on Nonmarket Valuation is relevant to individuals in many professions at all career levels. Professionals in government agencies, attorneys involved with natural resource damage assessments, graduate students, and others will appreciate the thorough descriptions of how to design, implement, and analyze a nonmarket valuation study.
Chapter 1. Valuing Environmental Goods and Services: An Economic Perspective
Chapter 2. Conceptual Framework for Nonmarket Valuation
Chapter 3. Collecting Nonmarket Valuation Data
Chapter 4. Contingent Valuation in Practice
Chapter 5. Choice Experiments
Chapter 6. Travel cost Models
Chapter 7. Hedonics
Chapter 8. Averting Behavior Methods
Chapter 9. Substitution Methods
Chapter 10. Experimental Methods in Valuation
Chapter 11. Benefit Transfer
Chapter 12. Reliability and Validity in Nonmarket Valuation