Though contingent valuation is the dominant technique for the valuation of public projects, especially in the environmental sector, the high costs of contingent valuation surveys prevent the use of this method for the assessment of relatively small projects. The reason for this cost problem is...

This paper analyzes the possible advantages of the trichotomous choice elicitation question format in contingent valuation studies over the traditional dichotomous choice format. In the past, contingent valuation studies showed that mean stated willingness to pay (WTP) for a public project was...