Abstract
The contingent valuation method (CVM) is one of the main methods for evaluating non-market values of resources. It originated in the United States and was introduced into China during the 1980s and 1990s. However, application of CVM in China is highly controversial based on three primary aspects: (1) the appropriate guidelines for CVM; (2) the elicitation techniques for willingness to pay (WTP); and (3) reliability and validity testing of CVM. The major objectives of this paper are to review the recent developments pertaining to guidelines, elicitation techniques, and reliability and validity testing for application of CVM, and to summarize the limitations of and measures for improving application of CVM in China. The applicability of CVM in China is discussed to enhance the future development of CVM in China.
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