Opportunity cost of water in the South Platte River: comparing economic value derived from stated and revealed preferences
The assessment of model choice is important in the valuation of ecosystem services because of the implications it has on policy decision making and public perception of natural resources. Values derived from the Contingent Valuation Method and the Travel Cost Method were compared using the South Platte River as a case study. Two surveys were distributed in order to find willingness to pay for increased fishery quality. In the Contingent Valuation model, individuals were asked if they were willing to pay an increased fishing license fee in order to improve fishery quality. The median willingness ...
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