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Preference reversals in Contingent and Inferred valuation methods

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  • Spiros Stachtiaris
  • Andreas C. Drichoutis
  • Stathis Klonaris

Abstract

We examine inconsistencies in preference orderings using the Contingent valuation (CV) and the Inferred valuation (IV) methods. We find that in the context of a food market we do not observe strong inconsistencies. Weak inconsistencies are observed for the IV method, indicating that IV is slightly more susceptible to inconsistent preference orderings than the CV method. We also find that the IV method generates higher valuations than CV in the case of consumers with high commitment costs (that is, low familiarity with the product) but successfully mitigates social desirability bias in the case of low commitment costs and high normative motivations. , Oxford University Press.

Suggested Citation

  • Spiros Stachtiaris & Andreas C. Drichoutis & Stathis Klonaris, 2013. "Preference reversals in Contingent and Inferred valuation methods," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 40(2), pages 379-404, March.
    • Handle: RePEc:oup:erevae:v:40:y:2013:i:2:p:379-404
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    File URL: http://hdl.handle.net/10.1093/erae/jbs030
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    Citations

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    Cited by:

    1. Achilleas Vassilopoulos & Niki Avgeraki & Stathis Klonaris, 2020. "Social desirability and the WTP–WTA disparity in common goods," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 22(7), pages 6425-6444, October.
    2. Frondel Manuel & Sommer Stephan & Tomberg Lukas, 2019. "Versorgungssicherheit mit Strom: Empirische Evidenz auf Basis der Inferred-Valuation-Methode," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 68(1), pages 53-73, May.
    3. Moon, DongWhoi & Wang, H. Holly & Hao, Na, 2023. "Consumer behavior in choosing microplastic contaminated seafood across different countries: The role of cultural and attitudinal factors," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 290-306.
    4. Tiesta Thakur & Terrance Hurley, 2023. "Do farmers need to be paid to grow milkweed for monarchs or will they volunteer if it is easy enough?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 45(2), pages 1008-1024, June.
    5. Young Woon Choi & Ji Yong Lee & Doo Bong Han & Rodolfo M. Nayga, 2018. "Consumers’ Valuation of Rice‐Grade Labeling," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 66(3), pages 511-531, September.
    6. Tsigkou, Stavroula & Klonaris, Stathis, 2020. "Eliciting Farmers' Willingness to Pay for Innovative Fertilizer Against Soil Salinity: Comparison of Two Methods in a Field Survey," International Journal of Agricultural Management, Institute of Agricultural Management, vol. 9, December.

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