Discuss, with real life examples, Stated Preference Methods and Revealed Preference Methods of valuing environmental products.

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Patrina SchowalterLv2

30 Jul 2019

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Compare and contrast the Revealed Preference Methods of evaluating benefits with the Stated-Preference Methods. Why do economists seem to have a strong preference for CV methods?

1.a) Albiona argues with Zhao about the limitations of the approach of paying monetary compensation for solving environmental problems.

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1.Explain why the relationship between price elasticity and the incidence of taxation is important for a local authority/government to understand, specifically, in terms of policy implementation which will involve taxation.

2. What is the difference between a basic "cost-benefit analysis" and a "cost-effectiveness analysis". Explain a potential scenario where a cost-effectiveness analysis should be used instead of a cost benefit analysis.

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