This paper we outline the “choice experiment” approach to environmental valuation. This approach has its roots in Lancaster's characteristics theory of value, in random utility theory and in experimental design. We show how marginal values for the attributes of environmental assets, such as...

This paper is concerned with the use of thechoice experiment method for modelling thedemand for recreation, using the example ofrock-climbing in Scotland. We begin byoutlining the method itself, including itstheoretical and econometric underpinnings. Datacollection procedures are then outlined....