The two methods used are stated preferences (SP) and revealed preferences (RP). In a SP study individuals are exposed to not real market situations where they are asked to state their opinions for a certain good. ... One SP method is the contingent valuation method (CV), in which individuals are asked to state their willingness-to-pay (WTP) for a good of interest. ... The advantage with the RP method in comparison to the SP methods to estimate individuals" preferences for safety is that real market behavior is observed. ...

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• Grade Level: Undergraduate