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Dubious And Dubiouser: Contingent Valuation And The Time Of Day

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  • David L. Dickinson
  • John C. Whitehead

Abstract

type="main" xml:id="ecin12161-abs-0001"> We collect contingent valuation data from 524 student survey respondents over a 3-day, 72-hour period. Data analysis of a hypothetical campus referendum focuses on time-of-day effects on willingness to pay for a renewable energy project. We find that subjects responding to the survey during the night-time hours (i.e., between 12 a.m. and 6 a.m.) do not display the law of demand, offering theoretically invalid responses to questions with important policy implications. Results from this research may have serious implications for the contingent valuation method (CVM). In short, just like your father said, nothing good happens after midnight when using the CVM . ( JEL Q51)

Suggested Citation

  • David L. Dickinson & John C. Whitehead, 2015. "Dubious And Dubiouser: Contingent Valuation And The Time Of Day," Economic Inquiry, Western Economic Association International, vol. 53(2), pages 1396-1400, April.
    • Handle: RePEc:bla:ecinqu:v:53:y:2015:i:2:p:1396-1400
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    References listed on IDEAS

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    1. Trudy Ann Cameron, 1991. "Interval Estimates of Non-Market Resource Values from Referendum Contingent Valuation Surveys," Land Economics, University of Wisconsin Press, vol. 67(4), pages 413-421.
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    Cited by:

    1. David L. Dickinson & Andrew R. Smith & Robert McClelland, 2019. "An Examination of Circadian Impacts on Judgments," Working Papers 19-11, Department of Economics, Appalachian State University.
    2. Dastan Bamwesigye & Petra Hlavackova & Andrea Sujova & Jitka Fialova & Petr Kupec, 2020. "Willingness to Pay for Forest Existence Value and Sustainability," Sustainability, MDPI, vol. 12(3), pages 1-16, January.
    3. Bishop, James, 2015. "No Rest for the Weary: Commuting, Hours Worked, and Sleep," MPRA Paper 62162, University Library of Munich, Germany.
    4. Pamela Wicker & John C Whitehead & Daniel S Mason & Bruce K Johnson, 2017. "Public support for hosting the Olympic Summer Games in Germany: The CVM approach," Urban Studies, Urban Studies Journal Limited, vol. 54(15), pages 3597-3614, November.

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    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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