A test of the answering mechanisms of the double-bounded contingent valuation method
AbstractThe double-bounded contingent valuation method (DBCVM) has long been criticized as an inappropriate estimation method because of respondents' inconsistent behavior during a course of DBCVM survey. Many experimental studies have reported that two subsequent answers are not made independently, but the second answer depends upon the first. There are many kinds of hypotheses, each of which contends a different pattern of dependence of the answers. In this study, it will be tested which hypothesis is more appropriate in explaining the dependence of the answers. For the test, the DBCVM under uncertainty is newly developed here in which some uncertainties associated with the CVM are recognized and the risk premium plays a criterion for respondents to answer.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 10 (2003)
Issue (Month): 15 ()
Contact details of provider:
Web page: http://www.tandfonline.com/RAEL20
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.:
- Kahneman, Daniel & Tversky, Amos, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Econometric Society, vol. 47(2), pages 263-91, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Carson, Richard T & Wilks, Leanne & Imber, David, 1994. "Valuing the Preservation of Australia's Kakadu Conservation Zone," Oxford Economic Papers, Oxford University Press, vol. 46(0), pages 727-49, Supplemen.
- Cameron Trudy Ann & Quiggin John, 1994.
"Estimation Using Contingent Valuation Data from a Dichotomous Choice with Follow-Up Questionnaire,"
Journal of Environmental Economics and Management,
Elsevier, vol. 27(3), pages 218-234, November.
- Trudy Ann Cameron & John Quiggin, 1992. "Estimation Using Contingent Valuation Data From a "Dichotomous Choice with Follow-Up" Questionnaire," UCLA Economics Working Papers 653, UCLA Department of Economics.
- Jeffrey Czajkowski, 2006. "Identifying the True Willingness-To-Pay of Bayesian Respondents in a Dichotomous Choice Contingent Valuation Methodology," Working Papers 0606, Florida International University, Department of Economics.
- Andrea Leiter, 2011. "Age effects in monetary valuation of reduced mortality risks: the relevance of age-specific hazard rates," The European Journal of Health Economics, Springer, vol. 12(4), pages 331-344, August.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.