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Abstract

In this paper we summarize the theoretical arguments of Carson and Groves, et al., and assemble early empirical evidence that comports with this theoretical framework. In doing so, we argue that redefining criterion validity in terms of consequentiality offers the potential for a fundamental paradigm shift in the Kuhnian sense. That this shift has yet to be fully incorporated into the contingent valuation literature reflects the nascent state of this paradigmatic challenge as well as the continued inertia of the dominant hypothetical bias paradigm. Further, empirical support for Carson and Groves, et al.’s consequentiality arguments have emerged in a somewhat piecemeal manner, spread across a diverse set of journal articles and unpublished manuscripts

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 38864.

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Date of creation: 13 Sep 2009
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Handle: RePEc:pra:mprapa:38864

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Related research

Keywords: contingent valuation; consequentiality; mechanism design;

Find related papers by JEL classification:

• B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
• H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
• Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

References

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1. Collins, Jill P. & Vossler, Christian A., 2009. "Incentive compatibility tests of choice experiment value elicitation questions," Journal of Environmental Economics and Management, Elsevier, vol. 58(2), pages 226-235, September.
2. Timothy C. Haab & Kenneth E. McConnell, . "Referendum Models and Negative Willingness to Pay: Alternative Solutions," Working Papers 9610, East Carolina University, Department of Economics.
   
   • Haab, Timothy C. & McConnell, Kenneth E., 1997. "Referendum Models and Negative Willingness to Pay: Alternative Solutions," Journal of Environmental Economics and Management, Elsevier, vol. 32(2), pages 251-270, February.
3. Bengt Kristrom, 1990. "A Non-Parametric Approach to the Estimation of Welfare Measures in Discrete Response Valuation Studies," Land Economics, University of Wisconsin Press, vol. 66(2), pages 135-139.
4. John List & David Reiley, 2008. "Field experiments," Artefactual Field Experiments 00091, The Field Experiments Website.
   
   • Glenn W. Harrison & John A. List, 2004. "Field Experiments," Journal of Economic Literature, American Economic Association, vol. 42(4), pages 1009-1055, December.
   • Glenn Harrison & John List, 2004. "Field experiments," Artefactual Field Experiments 00058, The Field Experiments Website.
5. Murphy, James J. & Stevens, Thomas H., 2004. "Contingent Valuation, Hypothetical Bias, and Experimental Economics," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 33(2), October.
6. John List & Craig Gallet, 2001. "What Experimental Protocol Influence Disparities Between Actual and Hypothetical Stated Values?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 20(3), pages 241-254, November.
7. Richard Carson & Nicholas Flores & Norman Meade, 2001. "Contingent Valuation: Controversies and Evidence," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(2), pages 173-210, June.
   
   • Carson, Richard T & Flores, Nicholas A, 2000. "Contingent Valuation: Controversies and Evidence," University of California at San Diego, Economics Working Paper Series qt75k752s7, Department of Economics, UC San Diego.
8. Richard T. Carson & Nicholas E. Flores & Kerry M. Martin & Jennifer L. Wright, 1996. "Contingent Valuation and Revealed Preference Methodologies: Comparing the Estimates for Quasi-Public Goods," Land Economics, University of Wisconsin Press, vol. 72(1), pages 80-99.
9. Gregory Poe & Jeremy Clark & Daniel Rondeau & William Schulze, 2002. "Provision Point Mechanisms and Field Validity Tests of Contingent Valuation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(1), pages 105-131, September.
10. Christian Vossler & Michael McKee, 2006. "Induced-Value Tests of Contingent Valuation Elicitation Mechanisms," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 35(2), pages 137-168, October.
11. Champ, Patricia A. & Bishop, Richard C. & Brown, Thomas C. & McCollum, Daniel W., 1997. "Using Donation Mechanisms to Value Nonuse Benefits from Public Goods," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 151-162, June.
12. Craig Landry & John List, 2007. "Using ex ante approaches to obtain credible signals for value in contingent markets: Evidence from the field," Framed Field Experiments 00168, The Field Experiments Website.
    
    • Craig E. Landry & John A. List, 2007. "Using Ex Ante Approaches to Obtain Credible Signals for Value in Contingent Markets: Evidence from the Field," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(2), pages 420-429.
13. Cameron, Trudy Ann & Poe, Gregory L. & Ethier, Robert G. & Schulze, William D., 2002. "Alternative Non-market Value-Elicitation Methods: Are the Underlying Preferences the Same?," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 391-425, November.
14. Johnston, Robert J., 2006. "Is hypothetical bias universal? Validating contingent valuation responses using a binding public referendum," Journal of Environmental Economics and Management, Elsevier, vol. 52(1), pages 469-481, July.
15. Herriges, Joseph A. & Kling, Catherine L. & Liu, Chih-Chen & Tobias, Justin, 2009. "What Are the Consequences of Consequentiality?," Staff General Research Papers 13034, Iowa State University, Department of Economics.
    
    • Herriges, Joseph & Kling, Catherine & Liu, Chih-Chen & Tobias, Justin, 2010. "What are the consequences of consequentiality?," Journal of Environmental Economics and Management, Elsevier, vol. 59(1), pages 67-81, January.
16. 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.
17. Opaluch, James J. & Segerson, Kathleen, 1989. "Rational Roots Of "Irrational" Behavior: New Theories Of Economic Decision-Making," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 18(2), October.
18. Richard Carson & Theodore Groves, 2007. "Incentive and informational properties of preference questions," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 181-210, May.
    
    • Carson, Richard T & Groves, Theodore, 2010. "Incentive and Information Properties of Preference Questions," University of California at San Diego, Economics Working Paper Series qt88d8644g, Department of Economics, UC San Diego.
19. Anthony Burton & Katherine Carson & Susan Chilton & W. Hutchinson, 2007. "Resolving questions about bias in real and hypothetical referenda," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 38(4), pages 513-525, December.
20. Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
21. Aadland, David & Anatchkova, Bistra & Grandjean, Burke & Shogren, Jason F. & Simon, Benjamin & Taylor, Patricia A., 2007. "Valuing Access to our Public Lands: A Unique Public Good Pricing Experiment," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 9789, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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Cited by:

1. Craig D. Broadbent, 2012. "Hypothetical Bias, Consequentiality and Choice Experiments," Economics Bulletin, AccessEcon, vol. 32(3), pages 2490-2499.
2. Bellemare, Marc F. & Holmberg, Andrew M., 2010. "The Determinants of Music Piracy in a Sample of College Students," MPRA Paper 23641, University Library of Munich, Germany.
3. Kling, Catherine Louise, 2012. "From Exxon to BP: Has Some Number Become Better than No Number?," Staff General Research Papers 35577, Iowa State University, Department of Economics.
   
   • Catherine L. Kling & Daniel J. Phaneuf & Jinhua Zhao, 2012. "From Exxon to BP: Has Some Number Become Better Than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 26(4), pages 3-26, Fall.
   • Kling, Catherine Louise, 2012. "From Exxon to BP: Has Some Number Become Better than No Number?," Staff General Research Papers 35576, Iowa State University, Department of Economics.
4. Börger, Tobias, 2011. "A direct test of socially desirable responding in contingent valuation interviews," FZID Discussion Papers 40-2011, University of Hohenheim, Center for Research on Innovation and Services (FZID).

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