Several methods have been proposed in the literature to obtain contingent WTP.
Besides the CVM, choice-based conjoint analysis or choice experiments (CEs) have
become increasingly popular in recent years to estimate the value of non-market
goods (e.g., Adamowicz et al. 1998; Alfnes 2004; Lusk et al. 2003). According to
Adamowicz et al. (1998), CEs have several advantages relative to CVM. Because CEs
are based on attributes it is possible to “value” attributes separately. Trade-offs among
a broader set of attributes can be elicited in comparison to CVM. One obvious
advantage of CEs over CVM is that the design of a CE allows varying attribute levels
and hence to check the sensitivity to scale and scope in attributes. While such tests are
in principle possible also for CVM questions, the CVM often evaluates just a single or
a few attributes which limits the scope for such tests.