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| Choice Experiment Valuation× | Contingent Valuation Method× | |
|---|---|---|
| Područje | Ekonomija | Ekonomija |
| Obitelj | Process / pipeline | Process / pipeline |
| Godina nastanka≠ | 1974 | 1963 |
| Tvorac≠ | Random utility theory (McFadden); applied to valuation by Louviere & Hensher | Robert K. Davis (early use); methodology codified by the NOAA panel |
| Vrsta≠ | Attribute-based stated-preference valuation method | Survey-based stated-preference valuation method |
| Temeljni izvor≠ | McFadden, D. (1974). Conditional logit analysis of qualitative choice behavior. In P. Zarembka (Ed.), Frontiers in Econometrics (pp. 105–142). New York: Academic Press. ISBN: 9780127761503 | Hanemann, W. M. (1994). Valuing the environment through contingent valuation. Journal of Economic Perspectives, 8(4), 19–43. DOI ↗ |
| Drugi nazivi | Discrete Choice Experiment, DCE, Choice-Based Conjoint Valuation, Stated Choice Experiment | CVM, Stated-Preference Valuation, Willingness-to-Pay Survey, Survey-Based Non-Market Valuation |
| Srodne | 2 | 2 |
| Sažetak≠ | A choice experiment (discrete choice experiment, DCE) is an attribute-based stated-preference method that values non-market goods by describing them as bundles of characteristics and asking respondents to choose repeatedly among competing alternatives — one of which always carries a cost. Grounded in random utility theory, the choices are modeled with a discrete-choice model whose coefficients reveal the relative value of each attribute, and dividing any attribute's coefficient by the cost coefficient yields its marginal willingness to pay. | The contingent valuation method (CVM) is a survey-based stated-preference technique for estimating the economic value people place on goods that are not traded in markets — clean air, an endangered species, a wilderness area, the existence of a natural resource. Respondents are presented with a carefully constructed hypothetical scenario and asked how much they would be willing to pay for a described change in provision; their answers are used to estimate mean or median willingness to pay, including non-use (existence) values that no market reveals. |
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