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Prior knowledge, familiarity and stated policy consequentiality in contingent valuation

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  • Katherine Needham
  • Nick Hanley

Abstract

Stated preference surveys are more likely to be demand revealing if the respondent views their responses as consequential i.e. the respondent cares about the policy in question, believes their response will affect the provision of the good and that they will be required to pay the stated amount. In this paper, we contribute to the growing literature on the subject by examining the influence of a respondent’s prior knowledge about the good being valued on stated policy consequentiality. We find that consistent with previous research, willingness to pay varies according to stated consequentiality; and that stated consequentiality itself varies according to a number of observables. Consequentiality and willingness to pay appear to be related on a continuum but this estimate is revised downwards for respondents with a high a priori knowledge of the good. Additionally, we enquire which observed variables influence respondents stated policy consequentiality and share our concerns that a single Likert scale question does not adequately capture a respondent’s belief over consequentiality.

Suggested Citation

  • Katherine Needham & Nick Hanley, 2020. "Prior knowledge, familiarity and stated policy consequentiality in contingent valuation," Journal of Environmental Economics and Policy, Taylor & Francis Journals, vol. 9(1), pages 1-20, January.
    • Handle: RePEc:taf:teepxx:v:9:y:2020:i:1:p:1-20
    DOI: 10.1080/21606544.2019.1611481
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    Cited by:

    1. Meles, Tensay Hadush & Mekonnen, Alemu & Beyene, Abebe D. & Hassen, Sied & Pattanayak, Subhrendu K. & Sebsibie, Samuel & Klug, Thomas & Jeuland, Marc, 2021. "Households' valuation of power outages in major cities of Ethiopia: An application of stated preference methods," Energy Economics, Elsevier, vol. 102(C).
    2. Meles, Tensay Hadush & Lokina, Razack & Mtenga, Erica Louis & Tibanywana, Julieth Julius, 2023. "Stated preferences with survey consequentiality and outcome uncertainty: A split sample discrete choice experiment," EfD Discussion Paper 23-16, Environment for Development, University of Gothenburg.
    3. Zawojska, Ewa & Gastineau, Pascal & Mahieu, Pierre-Alexandre & Cheze, Benoit & Paris, Anthony, 2021. "Measuring policy consequentiality perceptions in stated preference surveys," 2021 Annual Meeting, August 1-3, Austin, Texas 313977, Agricultural and Applied Economics Association.
    4. Tensay Hadush Meles & Razack Lokina & Erica Louis Mtenga & Julieth Julius Tibanywana, 2023. "Stated Preferences with Survey Consequentiality and Outcome Uncertainty: A Split Sample Discrete Choice Experiment," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 86(4), pages 717-754, December.
    5. Sergio Colombo & Wiktor Budziński & Mikołaj Czajkowski & Klaus Glenk, 2022. "The relative performance of ex‐ante and ex‐post measures to mitigate hypothetical and strategic bias in a stated preference study," Journal of Agricultural Economics, Wiley Blackwell, vol. 73(3), pages 845-873, September.
    6. Christian R. C. Kouakou & Jie He & Thomas G. Poder, 2024. "Estimating the monetary value of a Quality-Adjusted Life-Year in Quebec," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 25(5), pages 787-811, July.

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