10) 1) A) B) C) D) 2) A) B) C) D) 3) A) B) C) D) 4) A) B) C) D) 5) A) B) C) D) 20) Which of the following is a good definition of weak complementarity? the value of a change in a public good can be measured in terms of an unrelated private good the value of a change in a public good can be measured in terms of a related private good the value of a decrease in a private good can be measured in terms of a related public good the value of an increase in a public good can be measured in terms of a related private good In order to value the importance of a Shinto shrine popular with pilgrims on Mount Fuji, Japan, would revealed preference be an appropriate method? Yes, because the shrine receives enough pilgrims to nd good estimates No, because the hedonic method is more appropriate No, because it does not include passive values Yes, because its location far from cities makes it impossible to use the hedonic method Subway systems almost never break even, and they are a constant problem for the budget of large cities. Many, however, argue that these mass transit systems create a lot of value in other ways. What method would you use to quantify these benefits? Travel cost Contingent valuation Choice experiment Hedonic What is the theoretical difference between compensating value and equivalent value? Compensating value is about utility, equivalent value about expenditure The implied property rights They are the upper and lower bounds of the WTP estimate They are two terms for the same concept Ajudge has asked you to establish how much a family should receive for the falling of an ill- maintained pylon on their house, after which they were homeless for weeks. Which method and measure would you use? Contingent valuation, WTP Choice experiment, WTA Multiple good valuation, WTP Contingent valuation, WTA