Choice modelling is preferred over contingent valuation because:

Select one:

a.

it potentially reduces the incentive for respondents to behave strategically.

b.

it does not force respondents to consider trade-offs between attributes.

c.

it makes the frame of reference explicit to respondents.

d.

relative preference rankings are reliable and accurate.

e.

a and c

f.

b and d

g.

all of above

Flood attenuation services provided by mangroves are an indirect use value.

Select one:

a.

True

b.

False

Existence value speaks to ...

Select one:

a.

the usefulness of an existing environmental asset

b.

non-use value

c.

the intrinsic value of a natural resource

d.

use value

e.

b and c

f.

none of the above

The difference between 'revealed preference' and 'stated preference' valuation approaches is that'revealed preference' methods focus on consumers' actual spending habits whereas 'stated preference' just ascertains people's hypothetical willingness to pay.

Select one:

a.

True

b.

False

Which of the following is often referred to as the 'hedonic price' method for valuing environmental assets?

Select one:

a.

Using 'existence value' to estimate the value of an environmental asset

b.

Using 'willingness to pay' to value an environmental asset

c.

Using travel costs to estimate the value of an environmental asset

d.

Using linkages between variations in house prices and geographical proximity to an environmental asset

e.

Using 'option value' to estimate the value of an environmental asset

Cost-based valuation methods are particularly useful when:

Select one:

a.

non-use values need to be determined

b.

when market-prices are readily available

c.

when time and financial resources are limited

d.

when a detailed and precise assessment of ecosystem values is needed

Questionnaires and surveys of willingness-to-pay are widely used to evaluate the recreational benefits of environmental amenities, especially those which don't charge (i.e. no market price exists).

Select one:

a.

True

b.

False

Cost-effectiveness analysis:

Select one:

a.

Asks what was the ratio of benefits to costs in the public policy

b.

Considers public policy in terms of its policy instrument

c.

Estimates the value-for-money received from a constituted policy community

d.

Measures the impact of policy goals

The travel cost method is based on the premise:

Select one:

a.

that surveys of individuals at different recreational sites will provideinformation about the appropriate level of pollution camp sites.

b.

that travel cost to a site can be regarded as the price of access to thesite.

c.

existence value can be effectively measured from observed behavior.

d.

both b) and c)

Ecosystem commodification is ...

Select one:

a.

the "splitting" of an ecosystem or ecosystem service into legally-defined and tradable property rights to specific services or resources.

b.

is a form of marketisation designed to counteract environmental degradation.

c.

an approach to human affairs in which the "free market" is given priority and money-mediated relations are seen as the best way to deliver services.

d.

all of the above.