An investigation of preference uncertainty in the contingent valuation study
AbstractThis study investigates the respondents' preference uncertainty in the dichotomous choice (DC) contingent valuation study for gathering information on willingness to pay (WTP). To this end, we use polychotomous choice (PC) question and DC question with certainty level for two split samples. We find that incorporating preference uncertainty has a significant effect on the WTP estimates and, more importantly, the DC question with certainty level produces more efficient WTP estimate than the PC question.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 14 (2007)
Issue (Month): 9 ()
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- Roy Brouwer & Thijs Dekker & John Rolfe & Jill Windle, 2010. "Choice Certainty and Consistency in Repeated Choice Experiments," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 46(1), pages 93-109, May.
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- Voltaire, Louinord & Pirrone, Claudio & Bailly, Denis, 2013. "Dealing with preference uncertainty in contingent willingness to pay for a nature protection program: A new approach," Ecological Economics, Elsevier, vol. 88(C), pages 76-85.
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