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How Does the Cost Vector Affect Payment Consequentiality in a Binary Choice Contingent Valuation Survey?

Author

Listed:
  • Pierre-Alexandre Mahieu
  • Romain Crastes dit Sourd
  • Pascal Gastineau
  • Benoît Chèze
  • Andrea Taylor

Abstract

Payment consequentiality should improve the validity of welfare estimates in stated preference surveys according to a growing body of research. In this article, we study whether the type of amounts (precision, parity) that make up the cost vector affects payment consequentiality. Our experiment consists of a binary choice survey on renewable energy where the cost amounts range between €0.5 and €25. For small amounts, we find that precision increases payment consequentiality. For larger amounts, even numbers perform better than odd numbers. Our results suggest that the type of cost amount (e.g., even/odd, general/precise) should be carefully considered by the analyst.

Suggested Citation

  • Pierre-Alexandre Mahieu & Romain Crastes dit Sourd & Pascal Gastineau & Benoît Chèze & Andrea Taylor, 2024. "How Does the Cost Vector Affect Payment Consequentiality in a Binary Choice Contingent Valuation Survey?," Land Economics, University of Wisconsin Press, vol. 100(2), pages 245-255.
    • Handle: RePEc:uwp:landec:v:100:y:2024:i:2:p:245-255
    Note: DOI: https://doi.org/10.3368/le.100.2.111821-0135R1
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    More about this item

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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