ABSTRACT
The paper underlines the growing interest in the field of environmental economics for the Contingent Valuation Method (CVM), which is now recognised as a particularly reliable and flexible model of economic valuation.
At the same time, the limits within which the method appears appropriate are recalled as well as its potential. Specific precautionary measures must be taken, for example, in applications concerning cultural and historical resources, in which Italy and Europe are especially interested.
An application of CVM is presented for the analysis of the option value of an important cultural resource: the castle of Rivoli, near Turin.
