Temporal Reliability of Estimates from Contingent Valuation
AbstractIn 1992 the National Oceanic and Atmospheric Administration (NOAA) convened a panel of prominent social scientists to assess the reliability of natural resource damage estimates derived from contingent valuation (CV). The product of the panel's deliberations was a report that laid out a set of recommended guidelines for CV survey design, administration, and data analysis. This paper focuses on one of these guidelines -- the Panel's call for the "temporal averaging" of willingness-to-pay (WTP) responses obtained from CV surveys as one method for increasing their reliability. The panel suggested: "Time dependent measurement noise should be reduced by averaging across independently drawn samples taken at different points in time. A clear and substantial time trend in the responses would cast doubt on the 'reliability' of the finding."
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Bibliographic InfoPaper provided by Duke University, Department of Economics in its series Working Papers with number 95-05.
Date of creation: 1995
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Other versions of this item:
- Richard T. Carson & W. Michael Hanemann, & Raymond J. Kopp & Jon A. Krosnick & Robert C. Mitchell & Stanley Presser & Paul A. Rudd & V. Kerry Smith & Michael Conaway & Kerry Martin, 1997. "Temporal Reliability of Estimates from Contingent Valuation," Land Economics, University of Wisconsin Press, vol. 73(2), pages 151-163.
- Kopp, Raymond & Smith, V. Kerry & Mitchell, Robert & Presser, Stanley & Ruud, Paul & Hanemann, W. Michael & Krosnick, Jon & Carson, Richard, 1995. "Temporal Reliability of Estimates from Contingent Valuation," Discussion Papers dp-95-37, Resources For the Future.
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UCLA Economics Working Papers
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- Matthew A. Cole & Robert J.R. Elliott & Toshihiro Okubo, 2011.
Discussion Paper Series
DP2011-12, Research Institute for Economics & Business Administration, Kobe University.
- Paul R. Portney, 1994. "The Contingent Valuation Debate: Why Economists Should Care," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 3-17, Fall.
- Peter A. Diamond & Jerry A. Hausman, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall.
- Smith, V Kerry & Desvousges, William H, 1986. "The Value of Avoiding a Lulu: Hazardous Waste Disposal Sites," The Review of Economics and Statistics, MIT Press, vol. 68(2), pages 293-99, May.
- Alberini Anna, 1995. "Efficiency vs Bias of Willingness-to-Pay Estimates: Bivariate and Interval-Data Models," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 169-180, September.
RePEc Biblio mentionsAs found on the RePEc Biblio, the curated bibliography for Economics:
- > Environmental and Natural Resource Economics > Environmental Economics > Valuation > Contingent valuation method > Passive use values
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