Question 3: Contingent Valuation You have been asked to conduct a contingent valuation study to estimate the non-market value of the Kakadu National Park, because an expansion of uranium mining activity is proposed for the area. 1. The first step for a Contingent Valuation analysis is to define a market scenario. What criteria does your scenario need to satisfy to be considered best practice? Give a brief outline of a scenario that you might use. 2. What is a key criticism of contingent valuation studies? 3. What is a key benefit of contingent valuation studies?