Theoretical issues in using choice modelling data for benefit transfer

Non-market valuation techniques can be used to estimate the value of environmental and social impacts on peoples’ preferences where information is not available directly from markets. They include revealed preference methods such as the travel cost method (TCM) and stated preference techniques such as the contingent valuation method (CVM) and choice modelling (CM). The latter are capable of estimating passive (non-use) values, which may be important components ofdecision options involving environmental trade-offs.