One and One-Half Bound Dichotomous Choice Contingent Valuation
AbstractTo reduce the potential for response bias on the follow-up bid in multiple-bound discrete choice CVM questions while maintaining much of the efficiency gains of the multiple-bound approach, we introduce the one-and-one-half-bound (OOHB) approach. Despite the fact that the OOHB model uses less information than the double-bound (DB) approach, efficiency gains in moving from single-bound to OOHB capture a large portion of the gain associated with moving from single-bound to DB. In an analysis of survey data, our OOHB estimates demonstrated higher consistency with respect to the follow-up data than the DB estimates and were more efficient as well.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 17190.
Date of creation: Nov 2002
Date of revision: Nov 2002
contingent valuation; double-bound; one-and-one-half bound;
Other versions of this item:
- Joseph C. Cooper & Michael Hanemann & Giovanni Signorello, 2002. "One-and-One-Half-Bound Dichotomous Choice Contingent Valuation," The Review of Economics and Statistics, MIT Press, vol. 84(4), pages 742-750, November.
- Cooper, Joseph C. & Hanemann, W. Michael & Signorello, Giovanni, 2001. "One-and-One-Half Bound Dichotomous Choice Contingent Valuation," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt09c663b2, Department of Agricultural & Resource Economics, UC Berkeley.
- Cooper, Joseph C. & Hanemann, W. Michael & Signorello, Giovanni, 2001. "One-and-one-half-bound dichotomous choice contingent valuation," CUDARE Working Paper Series 921, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
- Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
- C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
- C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
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