Model Selection in Iterative Valuation Questions
AbstractIn 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 , outperforms other standard models and confirms that, when uncertain, respondents tend to accept proposed bids.
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Bibliographic InfoArticle provided by Dalloz in its journal Revue d'économie politique.
Volume (Year): Volume 117 (2007)
Issue (Month): 5 ()
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Web page: http://www.cairn.info/revue-d-economie-politique.htm
starting point bias; preference uncertainty; contingent valuation;
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