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An investigation of preference uncertainty in the contingent valuation study

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  • Jeong-In Chang
  • Seung-Hoon Yoo
  • Seung-Jun Kwak

Abstract

This study investigates the respondents' preference uncertainty in the dichotomous choice (DC) contingent valuation study for gathering information on willingness to pay (WTP). To this end, we use polychotomous choice (PC) question and DC question with certainty level for two split samples. We find that incorporating preference uncertainty has a significant effect on the WTP estimates and, more importantly, the DC question with certainty level produces more efficient WTP estimate than the PC question.

Suggested Citation

  • Jeong-In Chang & Seung-Hoon Yoo & Seung-Jun Kwak, 2007. "An investigation of preference uncertainty in the contingent valuation study," Applied Economics Letters, Taylor & Francis Journals, vol. 14(9), pages 691-695.
  • Handle: RePEc:taf:apeclt:v:14:y:2007:i:9:p:691-695 DOI: 10.1080/13504850600592713
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    References listed on IDEAS

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    1. Federico Revelli, 2002. "Testing the taxmimicking versus expenditure spill-over hypotheses using English data," Applied Economics, Taylor & Francis Journals, vol. 34(14), pages 1723-1731.
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    5. Henri Theil & Dongling Chen & Janet Galvez, 1996. "The spatial correlation of the per capita income of Florida's counties, 1970-1990," Applied Economics Letters, Taylor & Francis Journals, vol. 3(2), pages 71-72.
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    Cited by:

    1. Voltaire, Louinord & Pirrone, Claudio & Bailly, Denis, 2013. "Dealing with preference uncertainty in contingent willingness to pay for a nature protection program: A new approach," Ecological Economics, Elsevier, vol. 88(C), pages 76-85.
    2. Nikita Lyssenko & Roberto Martínez-Espiñeira, 2012. "Respondent uncertainty in contingent valuation: the case of whale conservation in Newfoundland and Labrador," Applied Economics, Taylor & Francis Journals, vol. 44(15), pages 1911-1930, May.

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