From the inbox:
Wow, this is definitely an insider-communication. What are CVM, CM, and CE, please? I don’t remember any of these from graduate school (way back when).
This is a great chance for me to post a reminder that all of these things are described, in about 1000 words, in our new book!
If you don't want to buy the book (sad face) here are the two Wikipedia links:
While I'm on the subject, I've been reading a lot (a lot) about choice experiments this summer. One thing I've developed is a distaste for the term "discrete choice experiment" (DCE). I much prefer the term favored by the National Marine Fisheries Service, stated preference choice experiment (SPCE). It makes it clear that this is stated preference data, not that dissimilar from other stated preference methods (i.e., they are prone to hypothetical bias). SPCE is more similar to CVM than revealed preference (RP) methods and experiments (EXP ... field or lab).
The discrete choice experiment rhetoric seems designed to raise the valuation approach to the top of a valuation pyramid when, in my opinion, the visual should be more like this:
And, yes, this is mostly all just post-CVM angst.
And, yes, I'll try to avoid the insider post in the future.