A general model of starting point bias in double-bounded dichotomous contingent valuation surveys
AbstractThis paper develops a general model that addresses the starting point bias in the dichotomous choice evaluation data by incorporating both the anchoring effect and yea-saying bias. The model is applied to a contingent valuation study that evaluated the health benefits of air quality improvement in three major metropolitan areas in Taiwan. The empirical evidence shows a strong anchoring effect but a weak yea-saying bias. The results show a serious understated willingness to pay if the biases in anchoring and yea-saying are not controlled.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Environmental Economics and Management.
Volume (Year): 50 (2005)
Issue (Month): 2 (September)
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Web page: http://www.elsevier.com/locate/inca/622870
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- Yu-Lan Chien & Cliff J. Huang & Daigee Shaw, 2004. "A General Model of Starting Point Bias in Double-Bounded Dichotomous Contingent Valuation Surveys," IEAS Working Paper : academic research 04-A008, Institute of Economics, Academia Sinica, Taipei, Taiwan.
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