Monetary-based ($£r) Ecosystem Valuation Methods (b)
¥Circumstantial Evidence – Imputed Willingness to Pay
–5) Damage Cost Avoided, Replacement Cost, and Substitute Cost Methods
–        Estimate economic values based on costs of avoided damages resulting from lost ecosystem services, costs of replacing ecosystem services, or costs of providing substitute services. 
¥Surveys – Expressed Willingness to Pay
–6) Contingent Valuation Method
–        Estimates economic values for virtually any ecosystem or environmental service. The most widely used method for estimating non-use, or Òpassive useÓ values. Asks people to directly state their willingness to pay for specific environmental services, based on a hypothetical scenario.
–7) Contingent Choice Method
–        Estimates economic values for virtually any ecosystem or environmental service. Based on asking people to make tradeoffs among sets of ecosystem or environmental services or characteristics. Does not directly ask for willingness to pay—this is inferred from tradeoffs that include cost as an attribute.
–8) Benefit Transfer Method
–        Estimates economic values by transferring existing benefit estimates from studies already completed for another location or issue.