Describe briefly, the hedonic price method of estimating benefits. Use an environmental example to illustrate your answer. Explain why this valutation
Describe briefly, the hedonic price method of estimating benefits. Use an environmental example to illustrate your answer. Explain why this valutation
The Hedonic price method of estimating benefit is defining as the valuation process in which economist try to estimate the economic value for the Eco-system services or environmental products. This method is widely used by consumer while considering both the external and internal factors affecting the price of the services or goods. While performing this valuation process of benefit, one can look into the all dimension of the pricing factor i.e. the price of motorbike depends upon the technology used, brand, emission level, comfort level, style, type etc. this method gives the actual benefit from any goods and services.
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