Is Referendum the Same as Dichotomous Choice Contingent Valuation?
AbstractThe NOAA Panel on contingent valuation (Arrow et al. 1993) recommends that the valuation question be cast under the form of a referendum because of incentive properties and familiarity to the respondent. Even though the literature has generally accepted the panel recommendation, it is not clear whether explicitly mentioning a referendum leads to different values than asking a dichotomous (yes/no) question without mentioning any voting process. The results of our specifically designed contingent valuation survey indicate that the estimated willingness to pay is significantly larger when a referendum is explicitly mentioned.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 82 (2006)
Issue (Month): 2 ()
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Web page: http://le.uwpress.org/
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