Valuing environmental commodities: revisited

To put the contingent market bidding technique (CMBT) in better perspective, the authors (1) clarify the analytical and operational assumptions required in a 1981 generalized theoretical model of consumer behavior and address implementation concerns that are important when selecting a valuation approach, (2) review the evidence on bases in CMBT studies, and (3) give several suggestions for better use of CMBTs. 23 references.