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Please clearly label each statement True or False and explain your reasoning. a) Revealed preference techniques...

Please clearly label each statement True or False and explain your reasoning.

a) Revealed preference techniques can be used to estimate non-use value (e.g., existence value).

b) Unlike revealed preference techniques, stated preference techniques are immune to “behavioral” phenomena (e.g., hyperbolic discounting).

c) Revealed preference and stated preference techniques should be used jointly when possible.

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