Economics · Environmental Valuation
The Contingent Valuation Method (CVM) is classified as a _______ technique for valuing environmental goods, and its key limitation is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Hedonic pricing technique; it requires property market data
- 2Market price technique; it requires observable transaction data
- 3Stated preference technique; it is subject to hypothetical bias and strategic response bias✓
- 4Revealed preference technique; it relies on actual market data
Correct answer
Stated preference technique; it is subject to hypothetical bias and strategic response bias
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