Valuation of Nonmarket Goods

Valuation of Nonmarket Goodse HOMEWORK Read the following paper:e "Public preferences for heritage conservation strategies: a choice modelling approach", David Throsby, Anita Zednik & Jorge E. Araa (2021). Journal of Cultural Economics, v. 45, pages 333358. In a 2-page, single-spaced essay, answer the following:le 1. 2. 3. 4. 5. Summarize the paper, focusing especially on the method used and the results.e Do you think the method used is correct? If you had to use a revealed preference method (travel cost, hedonic, defensive behavior), which would you choose? What data sets would you look for?e Do the attributes chosen (aesthetic, social, historical, architectural values) reflect the full picture of the type of public good studied? Add one attribute you would have added or used instead, and explain why. Look at table 3: is the population studied appropriate? Would you have added/removed anything to improve the study? Explain. Are the conclusions valid? Can you find any other pattern or interesting aspect from the results?e