Sentences with phrase «contingent valuation method»
Contingent valuation method (CVM)- CVM is an approach to quantitatively assess values assigned by people in monetary (willingness to pay) and non monetary (willingness to contribute with time, resources etc.) terms.
http://www.climatehotmap.org/
Cummings, R. G. and Taylor, L. O.: 1999, Unbiased value estimates for environmental goods: A cheap talk design for the contingent valuation method, The American Economic Review 89, 649 — 665.
In essence, the authors demonstrate a contingent valuation method which can be applied to environmental «goods,» endangered species, and the conundrums of biodiversity.