Issues in Estimating Benefits with Non-Market Methods

Peer Reviewed icon Peer Reviewed
Author
McConnell, Kenneth E.
Date issued
Aug 1995
Subject
Economy;
Environmental Policy;
Wastewater Management;
Water Supply and Sanitation
Category
Working Papers
This paper reviews modern techniques for estimating the benefits of goods which are not bought and sold in markets, paying special attention to the kinds of empirical studies that applied economists have faced in analyzing recent projects. The methods which are described and evaluated include Contingent Valuation, Hedonics, Travel Cost, and Random Utility Models.