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Fat tails and truncated bids in contingent valuation: an application to an endangered shorebird species

In: Contingent Valuation of Environmental Goods

Author

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  • George Parsons
  • Kelley Myers

Abstract

Contingent valuation is a survey-based procedure that attempts to estimate how much households are willing to pay for specific programs that improve the environment or prevent environmental degradation. For decades, the method has been the center of debate regarding its reliability: does it really measure the value that people place on environmental changes? Bringing together leading voices in the field, this timely book tells a unified story about the interrelated features of contingent valuation and how those features affect its reliability. Through empirical analysis and review of past studies, the authors identify important deficiencies in the procedure, raising questions about the technique’s continued use.

Suggested Citation

  • George Parsons & Kelley Myers, 2017. "Fat tails and truncated bids in contingent valuation: an application to an endangered shorebird species," Chapters, in: Daniel McFadden & Kenneth Train (ed.), Contingent Valuation of Environmental Goods, chapter 2, pages 17-42, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:17527_2
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    3. John C. Whitehead, "undated". "A Comment on “An Adding Up Test on Contingent Valuations of River and Lake Quality”," Working Papers 17-01_R, Department of Economics, Appalachian State University.
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    6. Desvousges, William H & Mathews, Kristy E & Train, Kenneth E, 2020. "Reply to Whitehead," Department of Economics, Working Paper Series qt4g87t7z3, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
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    17. John C. Whitehead & William P. Anderson, Jr & Dennis Guignet & Craig E. Landry & O. Ashton Morgan, 2024. "Sea-Level Rise, Drinking Water Quality and the Economic Value of Coastal Tourism in North Carolina," Working Papers 24-01, Department of Economics, Appalachian State University.
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    19. Whitehead, John Claiborne, 2017. "A replication of willingness-to-pay estimates in "An adding up test on contingent valuations of river and lake quality" (Land Economics, 2015)," Economics Discussion Papers 2017-55, Kiel Institute for the World Economy (IfW Kiel).
    20. Won Seok Lee, 2020. "A Study on the Value of Preserving a Parasitic Volcanic Sieve as a Tourism Good for Sustainable Management: Using the Contingent Valuation Method," Sustainability, MDPI, vol. 12(7), pages 1-12, April.
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    3. Schlapfer, Felix, 2006. "Survey protocol and income effects in the contingent valuation of public goods: A meta-analysis," Ecological Economics, Elsevier, vol. 57(3), pages 415-429, May.
    4. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489.
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