@article{Interis:183090,
      recid = {183090},
      author = {Interis, Matthew G.},
      title = {A Challenge to Three Widely Held Ideas},
      journal = {Journal of Agricultural and Applied Economics},
      address = {2014-08},
      number = {1379-2016-113883},
      series = {46},
      pages = {10},
      year = {2014},
      abstract = {Environmental valuation is the branch of environmental  economics in which researchers
estimate the economic value  of environmental goods and services. Environmental  valuation
has been practiced for decades. However, there  are some ideas in the field of environmental
valuation held  by many environmental economists and nonenvironmental  economists that
appear to be outdated. This article  discusses three such ideas: 1) that it is better to  estimate
willingness-to-pay values than  willingness-to-accept values; 2) that stated preference  valuation
methods are questionable because they are based  on hypothetical choices rather than
real choices; and 3)  that it is better to use a repeated-choice question format  than a singlechoice
format in choice experiments. We  discuss the origins of each idea and why the idea
became  prevalent in the first place.We then review recent  literature, which casts doubt on the
idea.We conclude with  a reminder for researchers—in environmental economics and  in other
economic fields—to periodically reassess ideas  they currently hold in light of recent  research
developments and in light of the context in which  they are used.},
      url = {http://ageconsearch.umn.edu/record/183090},
      doi = {https://doi.org/10.22004/ag.econ.183090},
}