Contingent valuation is a way to assess cultural values bydetermining how much people are willing to pay forthings.

Question

Quizplus · Accepted Answer

Contingent valuation is a method used in economics to determine the value that individuals place on a particular environmental resource, cultural resource or public good. It estimates the total economic benefit that would be derived from a project or policy by asking people how much they would be willing to pay for it. Hence, it is a way to assess cultural values by determining how much people are willing to pay for things.

Contingent Valuation Is a Way to Assess Cultural Values Bydetermining