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Explaining Disparities between Actual and Hypothetical Stated Values: Further Investigation Using Meta-Analysis

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  • Joseph Little

    (University of New Mexico)

  • Robert Berrens

    (University of New Mexico)

Abstract

Spurred by the need to account for non-market values in various policy applications, a lively and extended debate has surrounded the presence and magnitude of hypothetical bias in stated value studies (e.g., applications of the survey-based contingent valuation method). Using the rapidly accumulating set of comparison studies, List and Gallet (2001) conducted an initial meta-analysis of the experimental protocol that may be influencing the disparity between real and hypothetical values in stated value studies. We expand the original meta-analysis by using a significantly larger (29%) data set, including variables to account for referendum formats, certainty corrections, and cheap talk scripts.

Suggested Citation

  • Joseph Little & Robert Berrens, 2004. "Explaining Disparities between Actual and Hypothetical Stated Values: Further Investigation Using Meta-Analysis," Economics Bulletin, AccessEcon, vol. 3(6), pages 1-13.
  • Handle: RePEc:ebl:ecbull:eb-03c90005
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    References listed on IDEAS

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    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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