The construction of a dam that would provide hydroelectric power would result in the loss of two
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a. Imagine that a contingent valuation method is used to estimate the social cost of the loss of each of these streams. Would you be equally confident in the two sets of estimates?
b. Consider two general approaches to asking contingent valuation questions about the streams. The first approach attempts to elicit how much compensation people would require to give up the streams. The second approach attempts to elicit how much people would be willing to pay to keep the streams. Which approach would you recommend? Why?
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Related Book For
Cost Benefit Analysis Concepts and Practice
ISBN: 978-0137002696
4th edition
Authors: Anthony Boardman, David Greenberg, Aidan Vining, David Weimer
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