ISABB Journal of Health and Environmental Sciences
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Article Number - F2A980344873


Vol.1(1), pp. 8-16 , November 2011
DOI: 10.5897/ISAAB-JHE11.017
ISSN: 1937-3236



Review

Contingent valuation technique: A review of literature


Adem Kedir Geleto




Haramaya University, Ethiopia.


Email: ademkg@yahoo.com






 Received: 10 April 2011  Accepted: 11 September 2011  Published: 30 November 2011

Copyright © 2011 Author(s) retain the copyright of this article.
This article is published under the terms of the Creative Commons Attribution License 4.0


 

Managing environment and natural resources is one of the most important inputs for sustainable economic development. In statistics it said that “you cannot manage what you cannot count”. This can be rephrased for environment and natural resources by saying you cannot manage the environment and natural resources unless you value them. Some of the natural resources can be valued in terms of their alternative uses, while others are difficult to be valued. Valuing environment is even more difficult than valuing the natural resources. The objective of this paper is to discuss the methods of valuing environment and natural resources with particular emphasis to the contingent valuation method. Relevant theoretical and empirical literature, methodological issues, and problems of the contingent valuation methods are discussed in detail. Conclusions and recommendations are also made.

 

Key words: Contingent valuation, willingness to pay, willingness to accept, valuation methods.


APA Adem, K. G. (2011). Contingent valuation technique: A review of literature. ISABB Journal of Health and Environmental Sciences, 1(1), 8-16.
Chicago Adem Kedir Geleto. "Contingent valuation technique: A review of literature." ISABB Journal of Health and Environmental Sciences 1, no. 1 (2011): 8-16.
MLA Adem Kedir Geleto. "Contingent valuation technique: A review of literature." ISABB Journal of Health and Environmental Sciences 1.1 (2011): 8-16.
   
DOI 10.5897/ISAAB-JHE11.017
URL http://www.academicjournals.org/journal/ISABB-JHE/article-abstract/F2A980344873

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