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Cognitive ability and scale bias in the contingent valuation method

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Author Info
Henrik Andersson ()
Mikael Svensson

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Abstract

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File URL: http://hdl.handle.net/10.1007/s10640-007-9137-0
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Publisher Info
Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 39 (2008)
Issue (Month): 4 (April)
Pages: 481-495
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Handle: RePEc:kap:enreec:v:39:y:2008:i:4:p:481-495

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Related research
Keywords: Cognitive ability; Contingent valuation; Mortality risk; Near-proportionality; Scale bias; D80; I10; Q51;

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  1. Weinstein, Milton C & Shepard, Donald S & Pliskin, Joseph S, 1980. "The Economic Value of Changing Mortality Probabilities: A Decision-Theoretic Approach," The Quarterly Journal of Economics, MIT Press, vol. 94(2), pages 373-96, March. [Downloadable!] (restricted)
  2. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December. [Downloadable!]
  3. Jones-Lee, Michael W, 1974. "The Value of Changes in the Probability of Death or Injury," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 835-49, July/Aug.. [Downloadable!] (restricted)
  4. Lars Hultkrantz & Gunnar Lindberg & Camilla Andersson, 2006. "The value of improved road safety," Journal of Risk and Uncertainty, Springer, vol. 32(2), pages 151-170, March. [Downloadable!] (restricted)
  5. Rosen, Sherwin, 1988. " The Value of Changes in Life Expectancy," Journal of Risk and Uncertainty, Springer, vol. 1(3), pages 285-304, September.
    Other versions:
  6. Henrik Andersson, 2005. "The Value of Safety as Revealed in the Swedish Car Market: An Application of the Hedonic Pricing Approach," Journal of Risk and Uncertainty, Springer, vol. 30(3), pages 211-239, May. [Downloadable!] (restricted)
  7. Corso, Phaedra S & Hammitt, James K & Graham, John D, 2001. " Valuing Mortality-Risk Reduction: Using Visual Aids to Improve the Validity of Contingent Valuation," Journal of Risk and Uncertainty, Springer, vol. 23(2), pages 165-84, September. [Downloadable!] (restricted)
  8. Bateman, Ian J. & Brouwer, Roy, 2006. "Consistency and construction in stated WTP for health risk reductions: A novel scope-sensitivity test," Resource and Energy Economics, Elsevier, vol. 28(3), pages 199-214, August. [Downloadable!] (restricted)
  9. Kahneman, Daniel & Ritov, Ilana & Schkade, David A, 1999. "Economic Preferences or Attitude Expressions?: An Analysis of Dollar Responses to Public Issues," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 203-35, December. [Downloadable!] (restricted)
  10. Johannesson, Magnus & Johansson, Per-Olov & O'Conor, Richard M., 1996. "The Value of Private Safety versus the Value of Public Safety," Working Paper Series in Economics and Finance 103, Stockholm School of Economics.
    Other versions:
  11. Richard Carson & Nicholas Flores & Norman Meade, 2001. "Contingent Valuation: Controversies and Evidence," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(2), pages 173-210, June. [Downloadable!] (restricted)
    Other versions:
  12. Green, Donald & Jacowitz, Karen E. & Kahneman, Daniel & McFadden, Daniel, 1998. "Referendum contingent valuation, anchoring, and willingness to pay for public goods," Resource and Energy Economics, Elsevier, vol. 20(2), pages 85-116, June. [Downloadable!] (restricted)
    Other versions:
  13. Hammar, Henrik & Johansson-Stenman, Olof, 2001. "The Value Of Risk - Free Cigarettes - Do Smokers Underestimate The Risk?," Working Papers in Economics 61, Göteborg University, Department of Economics. [Downloadable!]
    Other versions:
  14. Alberini, Anna & Cropper, Maureen & Krupnick, Alan & Simon, N.B.Nathalie B., 2004. "Does the value of a statistical life vary with age and health status? Evidence from the US and Canada," Journal of Environmental Economics and Management, Elsevier, vol. 48(1), pages 769-792, July. [Downloadable!] (restricted)
  15. Persson, Ulf, et al, 2001. " The Value of a Statistical Life in Transport: Findings from a New Contingent Valuation Study in Sweden," Journal of Risk and Uncertainty, Springer, vol. 23(2), pages 121-34, September. [Downloadable!] (restricted)
  16. Hammitt, James K & Graham, John D, 1999. "Willingness to Pay for Health Protection: Inadequate Sensitivity to Probability?," Journal of Risk and Uncertainty, Springer, vol. 18(1), pages 33-62, April. [Downloadable!] (restricted)
  17. Kahneman, Daniel & Knetsch, Jack L., 1992. "Valuing public goods: The purchase of moral satisfaction," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 57-70, January. [Downloadable!] (restricted)
  18. Jeremy Clark & Lana Friesen, 2006. "The Causes of Order Effects in Contingent Valuation Surveys: An Experimental Investigation," Working Papers in Economics 06/06, University of Canterbury, Department of Economics. [Downloadable!]
    Other versions:
  19. Diamond, Peter A & Hausman, Jerry A, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall. [Downloadable!] (restricted)
  20. Varian, Hal R, 1999. "Commentary on "Economic Preferences or Attitude Expressions?: An Analysis of Dollar Responses to Public Issues" by Kahneman et al," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 241-42, December. [Downloadable!] (restricted)
  21. James Murphy & P. Allen & Thomas Stevens & Darryl Weatherhead, 2005. "A Meta-analysis of Hypothetical Bias in Stated Preference Valuation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 30(3), pages 313-325, 03. [Downloadable!] (restricted)
  22. Heberlein, Thomas A. & Wilson, Matthew A. & Bishop, Richard C. & Schaeffer, Nora Cate, 2005. "Rethinking the scope test as a criterion for validity in contingent valuation," Journal of Environmental Economics and Management, Elsevier, vol. 50(1), pages 1-22, July. [Downloadable!] (restricted)
  23. Eeckhoudt, Louis R. & Hammitt, James K., 2004. "Does risk aversion increase the value of mortality risk?," Journal of Environmental Economics and Management, Elsevier, vol. 47(1), pages 13-29, January. [Downloadable!] (restricted)
  24. Matthew Rabin, 2002. "Inference By Believers In The Law Of Small Numbers," The Quarterly Journal of Economics, MIT Press, vol. 117(3), pages 775-816, August. [Downloadable!] (restricted)
  25. Karen Blumenschein & Magnus Johannesson & Glenn C. Blomquist & Bengt Liljas & Richard M. O’Conor, 1998. "Experimental Results on Expressed Certainty and Hypothetical Bias in Contingent Valuation," Southern Economic Journal, Southern Economic Association, vol. 65(1), pages 169-177, July.
  26. Fredrik Carlsson & Olof Johansson-Stenman & Peter Martinsson, 2004. "Is Transport Safety More Valuable in the Air?," Journal of Risk and Uncertainty, Springer, vol. 28(2), pages 147-163, 03. [Downloadable!]
    Other versions:
  27. Andersson, Henrik & Svensson, Mikael, 2007. "Cognitive Ability and Scale Bias in the Contingent Valuation Method," Working Papers 2007:1, Swedish National Road & Transport Research Institute (VTI). [Downloadable!]
    Other versions:
  28. Pratt, John W & Zeckhauser, Richard J, 1996. "Willingness to Pay and the Distribution of Risk and Wealth," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 747-63, August. [Downloadable!] (restricted)
  29. Karen Blumenschein & GlennC. Blomquist & Magnus Johannesson & Nancy Horn & Patricia Freeman, 2008. "Eliciting Willingness to Pay Without Bias: Evidence from a Field Experiment," Economic Journal, Royal Economic Society, vol. 118(525), pages 114-137, 01. [Downloadable!] (restricted)
  30. Blumenschein, Karen & Johannesson, Magnus & Yokoyama, Krista K. & Freeman, Patricia R., 2001. "Hypothetical versus real willingness to pay in the health care sector: results from a field experiment," Journal of Health Economics, Elsevier, vol. 20(3), pages 441-457, May. [Downloadable!] (restricted)
  31. Carson Richard T. & Mitchell Robert Cameron, 1995. "Sequencing and Nesting in Contingent Valuation Surveys," Journal of Environmental Economics and Management, Elsevier, vol. 28(2), pages 155-173, March. [Downloadable!] (restricted)
  32. Champ, Patricia A. & Bishop, Richard C. & Brown, Thomas C. & McCollum, Daniel W., 1997. "Using Donation Mechanisms to Value Nonuse Benefits from Public Goods," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 151-162, June. [Downloadable!] (restricted)
  33. Shane Frederick, 2005. "Cognitive Reflection and Decision Making," Journal of Economic Perspectives, American Economic Association, vol. 19(4), pages 25-42, Fall. [Downloadable!] (restricted)
  34. Robert Sugden, 2005. "Anomalies and Stated Preference Techniques: A Framework for a Discussion of Coping Strategies," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 32(1), pages 1-12, 09. [Downloadable!] (restricted)
  35. Glenn Harrison, 2006. "Experimental Evidence on Alternative Environmental Valuation Methods," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 34(1), pages 125-162, 05. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Henrik Andersson & Mikael Svensson, 2008. "Cognitive ability and scale bias in the contingent valuation method," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 39(4), pages 481-495, April. [Downloadable!] (restricted)
    Other versions:
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