The "more is less" phenomenon in Contingent and Inferred valuation
Abstract2011) using the Contingent valuation (CV) as well as the Inferred valuation (IV) method (Lusk and Norwood 2009b). We find that when moving in the context of a familiar market for consumers (i.e., the food market) we only observe weak effects of inconsistencies. In addition, we find that the IV method is no better (and no worse) than the CV method in generating more consistent preference orderings. Surprisingly, we also find that the IV method generates higher valuations than CV, rendering one of its advantages of mitigating social desirability bias questionable.
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Bibliographic InfoPaper provided by European Association of Agricultural Economists in its series 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland with number 116013.
Date of creation: 02 Sep 2011
Date of revision:
willingness-to-pay (WTP); Contingent Valuation (CV); Inferred Valuation(IV); preference reversals; Resource /Energy Economics and Policy; C9; C93; D12; Q51;
Other versions of this item:
- Stachtiaris, Spiros & Drichoutis, Andreas & Klonaris, Stathis, 2011. "The “more is less” phenomenon in Contingent and Inferred valuation," MPRA Paper 29456, University Library of Munich, Germany.
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
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