Although the contingent valuation method has been widely used to value a diverse array of nonmarket environmental and natural resource commodities, recent empirical evidence suggests it may not accurately estimate real economic values. The hypothetical nature of environmental valuation surveys...

Three conjoint models-a traditional ratings model, a ratings difference specification, and a binary response model-were used to value groundwater protection program alternatives. The last, which is virtually identical to a dichotomous choice contingent valuation specification, produced the...