Contingent valuation is a survey-based economic technique used to estimate the value of non-market resources, such as environmental benefits or public goods. It involves asking individuals how much they would be willing to pay for specific improvements or how much compensation they would require for a loss. This method helps policymakers understand the economic value of resources that are not traded in traditional markets. The technique is often applied in environmental economics to assess the value of natural resources, ecosystem services, or the impact of pollution. By quantifying these values, contingent valuation aids in decision-making processes regarding conservation and resource management, ensuring that the benefits of these resources are considered in economic evaluations.