This article proposes contemporary best-practice recommendations for stated preference (SP) studies used to inform decision making, grounded in the accumulated body of peer-reviewed literature. These recommendations consider the use of SP methods to estimate both use and non-use (passive-use) values, and cover the broad SP domain, including contingent valuation and discrete choice experiments. We focus on applications to public goods in the context of the environment and human health but also consider ways in which the proposed recommendations might apply to other common areas of application. The recommendations recognize that SP results may be used and reused (benefit transfers) by governmental agencies and nongovernmental organizations, and that all such applications must be considered. The intended result is a set of guidelines for SP studies that is more comprehensive than that of the original National Oceanic and Atmospheric Administration (NOAA) Blue Ribbon Panel on contingent valuation, is more germane to contemporary applications, and reflects the two decades of research since that time. We also distinguish between practices for which accumulated research is sufficient to support recommendations and those for which greater uncertainty remains. The goal of this article is to raise the quality of SP studies used to support decision making and promote research that will further enhance the practice of these studies worldwide.

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Despite growing attention by researchers and policy makers on the economic value of cultural heritage sites, debate surrounds the use of adequate methods. Although choice modeling techniques have been applied widely in the environmental economics field, their application in tourism and cultural economics has been much more limited. This paper contributes to the knowledge on the economic valuation of cultural heritage sites through a national choice modeling study of Old Parliament House, Australia. The study sought to value marginal changes in several attributes of this site and revealed that only some of them are valued positively: extending the period of temporary exhibitions, hosting various events, and having 'shop and café ' and 'fine dining'. Advantages of using a mixed logit model are provided and managerial and policy implications are discussed.

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This study compares the welfare measures estimated from two different stated choice methods, contingent valuation method and choice modelling. The welfare measures are inferred from different assumptions about the utility function definition, like allowing for second-order interactions. The application involves the estimation of non-market values from alternative afforestation programmes in the Northeast of Spain. The two techniques are found to yield equivalent estimates of welfare change for identical afforestation programmes when the fully specified utility functions are used as the basis for the calculations. When elements of the utility functions, e.g., the second-order interactions effects, are omitted from the value estimation procedure, significant differences do occur between estimates derived using the two valuation techniques.

A lack of information on environmental protection values, especially non-market values, has contributed to wetland degradation in the Mekong River Delta. To fill this information gap, this study uses choice modelling to estimate the biodiversity protection values of Tram Chim National Park, a typical wetland ecosystem of the Delta. The estimated net social benefit of a proposed protection program ranges from USD0.52 million to USD1.84 million. This suggests that the program's implementation would improve social welfare. Some choice modelling issues, including the use of focus groups, aspects of questionnaire designs, and different survey modes, are discussed in the context of a developing country application.