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Resource quality information and validity of willingness to pay in contingent valuation

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Author Info
Blomquist, Glenn C.
Whitehead, John C.

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Abstract

Elicitation of valid statements of contingent value requires survey participants who are familiar with the environmental resource change. A primary purpose of the contingent market must be to assure familiarity by providing information. Information about resource quality is important when incompletely informed respondents, say nonusers, perceive resource quality which diverges from true quality. Differences in perceived quality and true quality can be influenced as respondents learn from information in the contingent market. By presenting survey participants with information about four wetlands of varying qualities we test for information effects in a dichotomous choice contingent market for wetlands allocation. We find that information about quality is a determinant of willingness to pay for wetland preservation. Information about resource quality presented in contingent markets will result in more valid valuations of changes in allocations of environmental resources.

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File URL: http://www.sciencedirect.com/science/article/B6VFJ-3V5M2XK-6/2/1fe9cb7fc722c8239a0d4daa507a7497
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Publisher Info
Article provided by Elsevier in its journal Resource and Energy Economics.

Volume (Year): 20 (1998)
Issue (Month): 2 (June)
Pages: 179-196
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Handle: RePEc:eee:resene:v:20:y:1998:i:2:p:179-196

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Web page: http://www.elsevier.com/locate/inca/505569

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  1. Oliver Froer, 2003. "Using Stated Preference Methods for Biodiversity Valuation. A critical analysis," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 217/2003, Department of Economics, University of Hohenheim, Germany. [Downloadable!]
  2. Jay Corrigan & Catherine L. Kling & Jinhua Zhao, 2003. "Dynamic Formation of Willingness to Pay: An Empirical Specification and Test , The," Center for Agricultural and Rural Development (CARD) Publications 03-wp327, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
  3. John C. Whitehead, 2005. "Improving Willingness to Pay Estimates for Quality Improvements through Joint Estimation with Quality Perceptions," Working Papers 05-09, Department of Economics, Appalachian State University. [Downloadable!]
    Other versions:
  4. Corrigan, Jay R. & Kling, Catherine L. & Zhao, Jinhua, 2003. "Dynamic Willingness to Pay: An Empirical Specification and Test," Staff General Research Papers 10220, Iowa State University, Department of Economics.
  5. Michael Ahlheim & Oliver Frör & Ulrike Lehr & Gerhard Wagenhals & Ursula Wolf, 2004. "Contingent Valuation of Mining Land Reclamation in East Germany," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 245/2004, Department of Economics, University of Hohenheim, Germany. [Downloadable!]
  6. Timothy C. Haab & Kenneth E. McConnell, . "A Simple Method for Bounding Willingness to Pay Using a Probit or Logit Model," Working Papers 9713, East Carolina University, Department of Economics. [Downloadable!]
  7. Benno Torgler & Bruno S. Frey & Clevo Wilson, 2007. "Environmental and Pro-Social Norms: Evidence from 30 Countries," Working Papers 2007.84, Fondazione Eni Enrico Mattei. [Downloadable!]
    Other versions:
  8. Klaus Moeltner & Richard T. Woodward, 2007. "Meta-Functional Benefit Transfer for Wetland Valuation: Making the Most of Small Samples," Working Papers 07-012, University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics. [Downloadable!]
    Other versions:
  9. John C. Whitehead & Glenn C. Blomquist & Richard C. Ready & Ju-Chin Huang, . "Construct Validity of Dichotomous and Polychotomous Choice Contingent Valuation Questions," Working Papers 9612, East Carolina University, Department of Economics. [Downloadable!]
    Other versions:
  10. María A. García-Valiñas & Benno Torgler, 2008. "Impuestos y Protección Medioambiental: Un Análisis de las Preferencias Individuales a nivel Europeo," Working Papers 03-2008, Institute of Local Public Finance. [Downloadable!]
  11. Jay Corrigan, 2001. "Effect of Future Availability of Information on Willingness to Pay, The," Center for Agricultural and Rural Development (CARD) Publications 01-wp290, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
  12. Jay R. Corrigan & Catharine L. Kling & Jinhua Zhao, 2006. "The Dynamic Formation of Willingness to Pay: An Empirical Specification and Test," Working Papers 0603, Kenyon College, Department of Economics. [Downloadable!]
  13. Lindhjem, Henrik & Navrud, Ståle, 2008. "Internet CV surveys – a cheap, fast way to get large samples of biased values?," MPRA Paper 11471, University Library of Munich, Germany. [Downloadable!]
  14. Trudy Ann Cameron, 2001. "Updating Subjective Risks in the Presence of Conflicting Information: An Application to Climate Change," University of Oregon Economics Department Working Papers 2003-8, University of Oregon Economics Department, revised 14 Jul 2001. [Downloadable!]
    Other versions:
  15. Corrigan, Jay, 2001. "The Effect of Future Availability of Information on Willingness to Pay," Staff General Research Papers 2023, Iowa State University, Department of Economics. [Downloadable!]
  16. Benno Torgler & María A.García-Valiñas & Alison Macintyre, 2008. "Differences in Preferences Towards the Environment: The Impact of a Gender, Age and Parental Effect," School of Economics and Finance Discussion Papers and Working Papers Series 227, School of Economics and Finance, Queensland University of Technology. [Downloadable!]
    Other versions:
  17. Benno Torgler & Maria A. Garcia-Valiñas, 2006. "Participation in Environmental Organizations: Political Interest and State Capacity," CREMA Working Paper Series 2006-14, Center for Research in Economics, Management and the Arts (CREMA). [Downloadable!]
  18. Benno Torgler & Maria A.Garcia-Valinas, 2006. "Participation in Environmental Organizations: An Empirical Analysis," CREMA Working Paper Series 2006-06, Center for Research in Economics, Management and the Arts (CREMA). [Downloadable!]
  19. Randall, Alan & Hoehn, John P., 2000. "Valuing Injury To Natural Resources: The Effect Of Resource Quality Information On Perceptions And Contingent Values," Staff Papers 11507, Michigan State University, Department of Agricultural, Food, and Resource Economics. [Downloadable!]
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