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Unbiased Value Estimates for Environmental Goods: A Cheap Talk Design for the Contingent Valuation Method

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  • Laura O. Taylor
  • Ronald G. Cummings

Abstract

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Suggested Citation

  • Laura O. Taylor & Ronald G. Cummings, 1999. "Unbiased Value Estimates for Environmental Goods: A Cheap Talk Design for the Contingent Valuation Method," American Economic Review, American Economic Association, vol. 89(3), pages 649-665, June.
  • Handle: RePEc:aea:aecrev:v:89:y:1999:i:3:p:649-665
    Note: DOI: 10.1257/aer.89.3.649
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    References listed on IDEAS

    as
    1. Farrell, Joseph & Gibbons, Robert, 1989. "Cheap talk can matter in bargaining," Journal of Economic Theory, Elsevier, vol. 48(1), pages 221-237, June.
    2. Schulze, William D. & McClelland, Gary H. & Lazo, Jeffrey K. & Rowe, Robert D., 1998. "Embedding and calibration in measuring non-use values," Resource and Energy Economics, Elsevier, vol. 20(2), pages 163-178, June.
    3. Joseph Farrell & Matthew Rabin, 1996. "Cheap Talk," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 103-118, Summer.
    4. Thomas C. Brown & Patricia A. Champ & Richard C. Bishop & Daniel W. McCollum, 1996. "Which Response Format Reveals the Truth about Donations to a Public Good?," Land Economics, University of Wisconsin Press, vol. 72(2), pages 152-166.
    5. John A. Fox & Jason F. Shogren & Dermot J. Hayes & James B. Kliebenstein, 1998. "CVM-X: Calibrating Contingent Values with Experimental Auction Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(3), pages 455-465.
    6. Poe, Gregory L. & Clark, Jeremy & Schulze, William D., 1997. "Can Hypothetical, Questions Predict Actual, Participation In Public Programs? A Field Validity Test Using A Provision Point Mechanism," Working Papers 7264, Cornell University, Department of Applied Economics and Management.
    7. V. Kerry Smith, 1996. "Can Contingent Valuation Distinguish Economic Values for Different Public Goods?," Land Economics, University of Wisconsin Press, vol. 72(2), pages 139-151.
    8. Smith, V. Kerry & Mansfield, Carol, 1998. "Buying Time: Real and Hypothetical Offers," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 209-224, November.
    9. E. Elisabet RutstrÃm, 1998. "Home-grown values and incentive compatible auction design," International Journal of Game Theory, Springer;Game Theory Society, vol. 27(3), pages 427-441.
    10. Cummings, Ronald G & Harrison, Glenn W & Rutstrom, E Elisabet, 1995. "Homegrown Values and Hypothetical Surveys: Is the Dichotomous Choice Approach Incentive-Compatible?," American Economic Review, American Economic Association, vol. 85(1), pages 260-266, March.
    11. Brookshire, David S & Coursey, Don L, 1987. "Measuring the Value of a Public Good: An Empirical Comparison of Elicitation Procedures," American Economic Review, American Economic Association, vol. 77(4), pages 554-566, September.
    12. Matthews, Steven A. & Okuno-Fujiwara, Masahiro & Postlewaite, Andrew, 1991. "Refining cheap-talk equilibria," Journal of Economic Theory, Elsevier, vol. 55(2), pages 247-273, December.
    13. Cummings, Ronald G, et al, 1997. "Are Hypothetical Referenda Incentive Compatible?," Journal of Political Economy, University of Chicago Press, vol. 105(3), pages 609-621, June.
    14. Helen R. Neill & Ronald G. Cummings & Philip T. Ganderton & Glenn W. Harrison & Thomas McGuckin, 1994. "Hypothetical Surveys and Real Economic Commitments," Land Economics, University of Wisconsin Press, vol. 70(2), pages 145-154.
    15. Neill Helen R., 1995. "The Context for Substitutes in CVM Studies: Some Empirical Observations," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages 393-397, November.
    16. Taylor, Laura O., 1998. "Incentive Compatible Referenda And The Valuation Of Environmental Goods," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(2), October.
    17. McKinley Blackburn & Glenn W. Harrison & E. Elisabet Rutström, 1994. "Statistical Bias Functions and Informative Hypothetical Surveys," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(5), pages 1084-1088.
    18. David Bjornstad & Ronald Cummings & Laura Osborne, 1997. "A Learning Design for Reducing Hypothetical Bias in the Contingent Valuation Method," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 10(3), pages 207-221, October.
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    More about this item

    JEL classification:

    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources

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