Firm conducted random survey of community residents

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A consulting firm conducted a random survey of community residents, describing a planned riverside park and then asking each respondent the question: “What is the most that you would be willing to pay to have this park built along the river?” Do you think that the monetary benefits estimated from the responses are likely to be an overestimate or an underestimate? What is the source of the bias?

Reference no: EM131238778

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