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A Cautionary Note on Tests for Incentive Incompatibility and Starting-Point Bias

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Author Info
David Aadland
Arthur Caplan

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Abstract

In a recent study by John Whitehead in 2002 (“Incentive Incompatibility and Starting-Point Bias in Iterative Valuation Questions”), he proposes incentive-incompatibility and starting-point-bias tests for iterative willingness-to-pay questions. We show that if restrictions associated with the nature of starting-point bias are not imposed on the estimation, one obtains inconsistent estimates of the structural parameters and may draw inaccurate conclusions regarding the extent of incentive incompatibility and starting-point bias in contingent-valuation survey data.

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File URL: ftp://repec.bus.usu.edu/RePEc/usu/pdf/ERI2003-07.pdf
File Format: application/pdf
File Function: First version, 2003
Download Restriction: no

Publisher Info
Paper provided by Utah State University, Department of Economics in its series Working Papers with number 2003-07.

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Length: 13 pages
Date of creation: Jul 2003
Date of revision:
Handle: RePEc:usu:wpaper:2003-07

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Related research
Keywords: Incentive incompatibility; starting-point bias; contingent valuation;

Find related papers by JEL classification:
Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models

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