"Papers and comments are revised versions of research presented at a conference ... held in Washington, D.C., on April 2-3, 1992"--Pref.

Includes bibliographical references and indexes.

Issues in the contingent valuation of environmental goods : methodologies for data collection and analysis / Gregory K. Leonard -- exploring a budget context for contingent valuation lestimates / Christopher Maxwell -- Where do the numbers come from? : how people respond to contingent valuation questions / John W. Payne -- On contingent valuation measurement of nonuse values / Jerry A. Hausman -- Review and analysis of state-of-the-art contingent valuation studies / Walter J. Mead -- Assessing use value losses caused by natural resource injury / Daniel McFadden -- Contingent valuation of the nonuse value of natural resources : implications for public policy and the liability system / Steven Shavell -- Some legal and regulatory aspects of contingent valuation / John F. Daum -- Does contingent valuation measure preferences? : experimental evidence / Mike A. Denning -- Is sympathy an economic value? : philosophy, economics, and the contingent valuation method / Paul Milgrom -- Panel discussion / Jerry A. Hausman -- Contingent valuation : a view of the conference and associated research / Charles R. Plott -- Contingent valuation of nonuse values : observations and questions / Kenneth J. Arrow -- Measuring natural resource damages with contingent valuation : tests of validity and reliability / Kevin J. Boyle.

The papers in this volume present a critical assessment of contingent valuation (CV). CV is a survey method that attempts to estimate individual values for economic goods by asking people hypothetical questions about their willingness to pay for such goods. The text reports research which is mainly from economists with specialities in economic theory, econometrics and public finance, rather than from the more narrowly focused research of environmental economics. The research of specialists in psychology, market research and litigation is included.

Description based on print version record.