ABSTRACT
Many environmental amenities and disamenities, whether it be a view, a species, or damages from pollution, do not have traditional market prices. Does that mean they do not have value? Absolutely not and several methods for monetizing the value of these resources are now well established. Stated preference and revealed preference methods are covered in this chapter in some detail, with examples of each. Contingent valuation, choice experiments, the travel-cost methods, and hedonic models all receive considerable attention. Best practices for reducing bias are introduced and examples covering the value of brown bears, national parks, water quality in New Zealand among others are shared.
