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Model selection in iterative valuation questions

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Author Info
Emmanuel Flachaire () (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I)
Guillaume Hollard (OEP - Université de Marne-la-Vallée)

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Abstract

In this article, we propose a unified framework that accomodates many of the existing models for dichotomous choice contingent valuation with follow-up and allows to discriminate between them by simple parametric tests of hypothese. Our empirical results show that the Range model, developped in Flachaire and Hollard (2007}, utperforms other standard models and confirms that, when uncertain, respondents tend to accept proposed bids.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00176033_v1.

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Date of creation: 2007
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Publication status: Published, Revue d'Economie Politique, 2007, 117, 5, 853-865
Handle: RePEc:hal:cesptp:halshs-00176033_v1

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Related research
Keywords: starting point bias ; preference uncertainty ; contingent valuation.;

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  1. Welsh, Michael P. & Poe, Gregory L., 1998. "Elicitation Effects in Contingent Valuation: Comparisons to a Multiple Bounded Discrete Choice Approach," Journal of Environmental Economics and Management, Elsevier, vol. 36(2), pages 170-185, September. [Downloadable!] (restricted)
  2. Alberini, Anna & Boyle, Kevin & Welsh, Michael, 2003. "Analysis of contingent valuation data with multiple bids and response options allowing respondents to express uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 45(1), pages 40-62, January. [Downloadable!] (restricted)
  3. DeShazo, J. R., 2002. "Designing Transactions without Framing Effects in Iterative Question Formats," Journal of Environmental Economics and Management, Elsevier, vol. 43(3), pages 360-385, May. [Downloadable!] (restricted)
  4. Herriges, Joseph A. & Shogren, Jason F., 1996. "Starting Point Bias in Dichotomous Choice Valuation with Follow-Up Questioning," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 112-131, January. [Downloadable!] (restricted)
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  5. Emmanuel Flachaire & Guillaume Hollard, 2006. "Controlling Starting-Point Bias in Double-Bounded Contingent Valuation Surveys," Land Economics, University of Wisconsin Press, vol. 82(1), pages 103-111. [Downloadable!] (restricted)
    Other versions:
  6. Li Chuan-Zhong & Mattsson Leif, 1995. "Discrete Choice under Preference Uncertainty: An Improved Structural Model for Contingent Valuation," Journal of Environmental Economics and Management, Elsevier, vol. 28(2), pages 256-269, March. [Downloadable!] (restricted)
  7. Ready Richard C. & Whitehead John C. & Blomquist Glenn C., 1995. "Contingent Valuation When Respondents Are Ambivalent," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 181-196, September. [Downloadable!] (restricted)
  8. van Kooten, G Cornelis & Krcmar, Emina & Bulte, Erwin H, 2001. " Preference Uncertainty in Non-market Valuation: A Fuzzy Approach," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 83(3), pages 487-500, August. [Downloadable!] (restricted)
  9. Richard C. Ready & Ståle Navrud & RW. Richard Dubourg, 2001. "How Do Respondents with Uncertain Willingness to Pay Answer Contingent Valuation Questions?," Land Economics, University of Wisconsin Press, vol. 77(3), pages 315-326. [Downloadable!] (restricted)
  10. Dan Ariely & George Loewenstein & Drazen Prelec, 2003. ""Coherent Arbitrariness": Stable Demand Curves Without Stable Preferences," The Quarterly Journal of Economics, MIT Press, vol. 118(1), pages 73-105, February. [Downloadable!] (restricted)
  11. John Crooker & Joseph Herriges, 2004. "Parametric and Semi-Nonparametric Estimation of Willingness-to-Pay in the Dichotomous Choice Contingent Valuation Framework," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 27(4), pages 451-480, April. [Downloadable!] (restricted)
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