ABSTRACT
The diverse reactions to the Department of the Interior's proposed rules defining reliable methods for measuring people's valuations for non-marketed resources might lead newcomers to believe that the methods are quite new. However, the primary methods for nonmarket valuation, both indirect (revealed preference) and direct (stated preference), were proposed more than forty years ago. 1 This does not mean that empirical research on methods has accumulated systematically since then, but it does mean that the methods for valuing nonmarketed resources are only about a decade younger than the more widely accepted empirical demand models for marketed goods. 2
