The Dynamics of Preference Elicitation after an Environmental Disaster: Stability and Emotional Load
Nonmarket valuation is commonly applied to infer the preferences of individuals for restoration policies after an environmental disaster. A crucial issue in this task is to determine the appropriate lapse of time after which the valuation techniques should be applied. This study investigates the role of the emotional load in explaining the dynamic patterns of elicited preferences. The results show that preferences tend to stabilize when the emotional load is also stable. The main implication is that attitudinal investigation of emotions could provide satisfactory information for determining the time frame for implementing more costly nonmarket valuation studies.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- W. Michael Hanemann, 1984. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 332-341.
- Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
- Chib, Siddhartha, 1992. "Bayes inference in the Tobit censored regression model," Journal of Econometrics, Elsevier, vol. 51(1-2), pages 79-99.
- Flynn, Terry Nicholas & Louviere, Jordan J. & Peters, Tim J. & Coast, Joanna, 2010. "Using discrete choice experiments to understand preferences for quality of life. Variance-scale heterogeneity matters," Social Science & Medicine, Elsevier, vol. 70(12), pages 1957-1965, June.
- Araña, Jorge E. & León, Carmelo J. & Hanemann, Michael W., 2008. "Emotions and decision rules in discrete choice experiments for valuing health care programmes for the elderly," Journal of Health Economics, Elsevier, vol. 27(3), pages 753-769, May.
- McCulloch, Robert & Rossi, Peter E., 1994. "An exact likelihood analysis of the multinomial probit model," Journal of Econometrics, Elsevier, vol. 64(1-2), pages 207-240.
- Jordan Louviere, 2006. "What You Don’t Know Might Hurt You: Some Unresolved Issues in the Design and Analysis of Discrete Choice Experiments," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 34(1), pages 173-188, 05.
- Fruhwirth-Schnatter, Sylvia & Kaufmann, Sylvia, 2008.
"Model-Based Clustering of Multiple Time Series,"
Journal of Business & Economic Statistics,
American Statistical Association, vol. 26, pages 78-89, January.
- Mario F. Teisl & Kevin J. Boyle & Daniel W. McCollum & Stephen D. Reiling, 1995. "Test-Retest Reliability of Contingent Valuation with Independent Sample Pretest and Posttest Control Groups," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(3), pages 613-619.
- Aßmann, Christian & Boysen-Hogrefe, Jens, 2011. "A Bayesian approach to model-based clustering for binary panel probit models," Computational Statistics & Data Analysis, Elsevier, vol. 55(1), pages 261-279, January.
- Arild Vatn, 2004. "Environmental Valuation and Rationality," Land Economics, University of Wisconsin Press, vol. 80(1), pages 1-18.
- Cooper Joseph C., 1993. "Optimal Bid Selection for Dichotomous Choice Contingent Valuation Surveys," Journal of Environmental Economics and Management, Elsevier, vol. 24(1), pages 25-40, January.
- Dan Lovallo & Colin Camerer, 1999. "Overconfidence and Excess Entry: An Experimental Approach," American Economic Review, American Economic Association, vol. 89(1), pages 306-318, March.
- Thomas Dietz & Paul C. Stern & Amy Dan, 2009. "How Deliberation Affects Stated Willingness to Pay for Mitigation of Carbon Dioxide Emissions: An Experiment," Land Economics, University of Wisconsin Press, vol. 85(2), pages 329-347.
- John C. Whitehead & Thomas J. Hoban, .
"Testing for Temporal Reliability in Contingent Valuation with Time for Changes in Factors Affecting Demand,"
9613, East Carolina University, Department of Economics.
- John C. Whitehead & Thomas J. Hoban, 1999. "Testing for Temporal Reliability in Contingent Valuation with Time for Changes in Factors Affecting Demand," Land Economics, University of Wisconsin Press, vol. 75(3), pages 453-465.
- Jay Corrigan & Catherine Kling & Jinhua Zhao, 2008. "Willingness to Pay and the Cost of Commitment: An Empirical Specification and Test," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 40(2), pages 285-298, June.
- Clive L. Spash, 2006. "Non-Economic Motivation for Contingent Values: Rights and Attitudinal Beliefs in the Willingness To Pay for Environmental Improvements," Land Economics, University of Wisconsin Press, vol. 82(4), pages 602-622.
- Loomis, John B., 1990. "Comparative reliability of the dichotomous choice and open-ended contingent valuation techniques," Journal of Environmental Economics and Management, Elsevier, vol. 18(1), pages 78-85, January.
- Kahneman, Daniel & Schkade, David & Sunstein, Cass R, 1998. "Shared Outrage and Erratic Awards: The Psychology of Punitive Damages," Journal of Risk and Uncertainty, Springer, vol. 16(1), pages 49-86, April.
- Heckman, James & Singer, Burton, 1984. "A Method for Minimizing the Impact of Distributional Assumptions in Econometric Models for Duration Data," Econometrica, Econometric Society, vol. 52(2), pages 271-320, March.
- Fong, Christina, 2001. "Social preferences, self-interest, and the demand for redistribution," Journal of Public Economics, Elsevier, vol. 82(2), pages 225-246, November.
When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:88:y:2012:ii:1:p:362-381. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.