We define a simple criterion for assessing the plausibility of Willingness to Pay (WTP) estimates obtained from discrete choice experiments. The criterion compares WTP for the bundle of attributes yielding the highest utility with a threshold value related to the highest level of the cost...

Theoretical Background -- Developing the Questionnaire -- Experimental Design -- Collecting the Data -- Econometric Modelling: Basics -- Econometric Modelling: Extensions -- Calculating Marginal and Non-Marginal Welfare Measures -- Validity and Reliability -- Software.

This open access book offers up-to-date advice and practical guidance on how to undertake a discrete choice experiment as a tool for environmental valuation. It discusses crucial issues in designing, implementing and analysing choice experiments. Compiled by leading experts in the field, the...