Stated preference valuation methods differ from revealed preference valuation
methods in that the WTP is elicited by asking people to directly state their choices by using survey methods.

Question

Stated preference valuation methods differ from revealed preference valuation
 methods in that the WTP is elicited by asking people to directly state their choices by using survey methods.

Quizplus · Accepted Answer

Stated preference valuation methods involve surveys and asking individuals to directly state their preferences and willingness to pay, while revealed preference methods observe actual consumer behavior to infer willingness to pay.

Stated Preference Valuation Methods Differ from Revealed Preference Valuation