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Valuation of Multiple Environmental Programs

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  • Payne, John W, et al
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    Abstract

    We examined sequence effects on willingness-to-pay (WTP) when people evaluate a series of environmental goods. Each respondent evaluated five different environmental goods using WTP and four evaluative attitude ratings. There was a strong sequence effect: WTP was much larger for the first good than for goods evaluated afterward. Also, total WTP for the bundle of five goods depended on which good was evaluated first: the more highly valued the first good, the higher the total WTP for the bundle. The attitude ratings are shown to be more statistically efficient than WTP in measuring the relative importance of different environmental goods. Copyright 2000 by Kluwer Academic Publishers

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    Bibliographic Info

    Article provided by Springer in its journal Journal of Risk and Uncertainty.

    Volume (Year): 21 (2000)
    Issue (Month): 1 (July)
    Pages: 95-115

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    Handle: RePEc:kap:jrisku:v:21:y:2000:i:1:p:95-115

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    Cited by:
    1. James Hammitt & Jin-Tan Liu, 2004. "Effects of Disease Type and Latency on the Value of Mortality Risk," Journal of Risk and Uncertainty, Springer, vol. 28(1), pages 73-95, January.
    2. Hitzhusen, Frederick J. & Abdul-Mohsen, Ashraf & Kruse, Sarah, 2004. "Toward Improved Economic Analysis Using Contingent Valuation: Some Methodological Considerations Applied To River Toxics And Dam Removal," 2004 Annual meeting, August 1-4, Denver, CO 20326, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. 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 and Finance.
    4. Karine Lamiraud & Konrade von Bremen & Cam Donaldson, 2009. "The impact of information on patient preferences in different delivery patterns : a contingent valuation study of prescription versus OTC drugs," Working Papers 0901, University of Lausanne, Institute of Health Economics and Management (IEMS).
    5. Guofang Zhai & Takeshi Suzuki, 2009. "Evaluating Economic Value of Coastal Waterfront in Tokyo Bay, Japan with Willingness-to-Accept Measure," Water Resources Management, Springer, vol. 23(4), pages 633-645, March.
    6. Jonathan Levav & Mark Heitmann & Andreas Herrmann & Sheena S. Iyengar, 2010. "Order in Product Customization Decisions: Evidence from Field Experiments," Journal of Political Economy, University of Chicago Press, vol. 118(2), pages 274-299, 04.
    7. Jørgensen, Sisse Liv & Olsen, Søren Bøye & Ladenburg, Jacob & Martinsen, Louise & Svenningsen, Stig Roar & Hasler, Berit, 2013. "Spatially induced disparities in users' and non-users' WTP for water quality improvements—Testing the effect of multiple substitutes and distance decay," Ecological Economics, Elsevier, vol. 92(C), pages 58-66.
    8. Cai, Beilei & Cameron, Trudy Ann & Gerdes, Geoffrey R., 2011. "Distal order effects in stated preference surveys," Ecological Economics, Elsevier, vol. 70(6), pages 1101-1108, April.
    9. Gemmell, Norman & Morrissey, Oliver & Pinar, Abuzer, 2003. "Tax perceptions and the demand for public expenditure: evidence from UK micro-data," European Journal of Political Economy, Elsevier, vol. 19(4), pages 793-816, November.
    10. Alberto Longo & David Hoyos & Anil Markandya, 2012. "Willingness to Pay for Ancillary Benefits of Climate Change Mitigation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 51(1), pages 119-140, January.
    11. Moore, Christopher C. & Holmes, Thomas P. & Bell, Kathleen P., 2011. "An attribute-based approach to contingent valuation of forest protection programs," Journal of Forest Economics, Elsevier, vol. 17(1), pages 35-52, January.
    12. Veisten, Knut, 2007. "Contingent valuation controversies: Philosophic debates about economic theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(2), pages 204-232, April.
    13. Mochon, Daniel & Frederick, Shane, 2013. "Anchoring in sequential judgments," Organizational Behavior and Human Decision Processes, Elsevier, vol. 122(1), pages 69-79.
    14. Huber, Michaela & Van Boven, Leaf & McGraw, A. Peter & Johnson-Graham, Laura, 2011. "Whom to help? Immediacy bias in judgments and decisions about humanitarian aid," Organizational Behavior and Human Decision Processes, Elsevier, vol. 115(2), pages 283-293, July.

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