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Model Selection in Iterative Valuation Questions

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  • Emmanuel Flachaire
  • Guillaume Hollard

Abstract

In this article, we propose a unified framework that accomodates many of the existing models for dichotomous choice contingent valuation with follow-up and allows to discriminate between them by simple parametric tests of hypothese. Our empirical results show that the Range model, developped in Flachaire and Hollard [2007], outperforms other standard models and confirms that, when uncertain, respondents tend to accept proposed bids.

Suggested Citation

  • Emmanuel Flachaire & Guillaume Hollard, 2007. "Model Selection in Iterative Valuation Questions," Revue d'économie politique, Dalloz, vol. 117(5), pages 853-865.
    • Handle: RePEc:cai:repdal:redp_175_0853
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    1. DeShazo, J. R., 2002. "Designing Transactions without Framing Effects in Iterative Question Formats," Journal of Environmental Economics and Management, Elsevier, vol. 43(3), pages 360-385, May.
    2. Flachaire, Emmanuel & Hollard, Guillaume, 2007. "Starting point bias and respondent uncertainty in dichotomous choice contingent valuation surveys," Resource and Energy Economics, Elsevier, vol. 29(3), pages 183-194, September.
    3. Crooker, John R. & Herriges, Joseph A., 2004. "Parametric and Semi-Nonparametric Estimation of Willingness-To-Pay in a Contingent Valuation Framework," Staff General Research Papers Archive 11156, Iowa State University, Department of Economics.
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    7. Richard C. Ready & Ståle Navrud & RW. Richard Dubourg, 2001. "How Do Respondents with Uncertain Willingness to Pay Answer Contingent Valuation Questions?," Land Economics, University of Wisconsin Press, vol. 77(3), pages 315-326.
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    Cited by:

    1. Pierre-Alexandre Mahieu & Romain Craste & Bengt Kriström & Pere Riera, 2014. "Non-market valuation in France: An overview of the research activity," Working Papers hal-01087365, HAL.

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