Final answer:
Alternative methods to value environmental goods include the Travel Cost Method, which is based on actual market behaviors to value ecosystems used for recreation, and the Hedonic Pricing Method, which estimates values from real-world market transactions like housing prices reflecting environmental attributes.
Step-by-step explanation:
Aside from the contingent valuation method, an alternative method to value environmental goods could be the Travel Cost Method. This technique estimates economic values associated with ecosystems or sites that are used for recreation. It differs from the contingent valuation method because it is based on actual behavior observed in markets, rather than on hypothetical scenarios. It calculates the value people place on a particular site or ecosystem by observing the time and travel cost expenditures they incur to visit the site. This would be an appropriate choice for valuing a national park or wildlife refuge since it provides a measure based on real economic decisions made by visitors.
Another approach is the Hedonic Pricing Method, which can be used to estimate economic value for ecosystem or environmental services that affect market prices. It works by examining the prices of market goods that include environmental attributes, like housing prices that reflect the desirability of environmental features such as a water view or proximity to green space. Unlike contingent valuation, which asks individuals to value an environmental good directly, this method infers values from actual choices in the housing market, providing a valuation based on real-world transactions.