Discussion
Willingness to pay is used to value a public benefit because it measures
Answer: B
Correct answer: what beneficiaries would give up to obtain it
Willingness to pay measures the value to the people who receive the benefit, which is what the analysis is trying to capture. What the agency spends measures cost rather than value, and a project can perfectly well cost more than the benefit is worth - which is the finding the study exists to produce.
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