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Lecture
Valuation of Impacts and Resources
Description
This lecture focuses on the valuation of impacts and resources, emphasizing the translation of preferences into monetary terms using concepts like willingness to pay (WTP) and willingness to accept (WTA). It covers revealed and stated preferences approaches, methods like travel cost and hedonic price, and the contingent valuation method. The instructor discusses the challenges and applications of these methods, illustrating with examples from housing markets and labor economics.
Official source
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