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Stated preference valuation (also known as contingent valuation) is a questionnaire-based technique which is used to directly establish the value a person places on something. Two common types of stated preference value are willingness to pay (i.e., how much someone is willing to pay for a particular benefit, and willingness to accept (i.e., what compensation someone will accept for the loss of something, e.g., a decrease in air quality). Compare with revealed preference.
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