Water valuation and the application of Declared Preferences methods: Contingent Valuation vs a Choice Experiment approach

In the Declared Preferences methods (DP) questions are developed to different persons in order to establish alternative hypothetical scenarios. The most important methods which are based in a Declared Preferences hypothesis are the Contingent Valuation (CV) method and those which are based in a Choice Experiment (CE) Approach. In DP methods questions are used in order to establish preferences over hypothetical scenarios, which could be different (either goods or services). Each alternative is described through different attributes, and the answers can be used in order to determine the different preferences. Some very relevant methods which are based in the DP hypothesis can be found which are based in CV and CE approaches.