A satisfactory benefit cost indicator from contingent valuation

Hoehn, John P.; Randall, Alan

doi:10.1016/0095-0696(87)90018-0

Cited by 386 publications

(156 citation statements)

References 12 publications

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“…And for the other good-the Albuquerque citizens' guide-the percent voting yes when the cheap talk script was used was within 5 percentage points of its real referendum counterpart. This study is important not only for its demonstration of a promising approach for adjusting for hypothetical bias, but also because it used a referendum format, which is arguably the most appropriate contingent valuation format for valuing public goods [10]. 1 Cummings and Taylor [7] cite two working papers that also unsuccessfully used short scripts to remove hypothetical bias.…”

Section: Article In Pressmentioning

confidence: 99%

Further tests of entreaties to avoid hypothetical bias in referendum contingent valuation

Brown

Ajzen

Hrubes

2003

Journal of Environmental Economics and Management

121

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Over-estimation of willingness to pay in contingent markets has been attributed largely to hypothetical bias. One promising approach for avoiding hypothetical bias is to tell respondents enough about such bias that they self-correct for it. A script designed for this purpose by Cummings and Taylor was used in hypothetical referenda that differed in payment amount. In comparisons with behavior observed in otherwise identical real payment referenda, the script worked remarkably well at higher payment levels (dropping the likelihood of a yes vote to the level obtained in separate sample real referenda), but less well at a lower payment level. The repeated success of the script at higher payment amounts is a clear sign that additional research is warranted-research that will bring us a more complete understanding of how the entreaty works. This research may need to explore its workings at the individual respondent level. r

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Section: Article In Pressmentioning

confidence: 99%

Further tests of entreaties to avoid hypothetical bias in referendum contingent valuation

Brown

Ajzen

Hrubes

2003

Journal of Environmental Economics and Management

121

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“…Investigating the impact of alternate elicitation format (and hence incentive compatibility) upon the scope sensitivity of responses provides a final facet of our study design, to which we now turn. Carson et al (1999) build upon Hoehn and Randall (1987) to make a case in favour of using a single dichotomous choice (DC) question to elicit WTP responses 7 . This case is based upon the incentive compatibility properties of such single responses as set out by the work of Gibbard (1973) and Satterthwaite (1975) establishing the potential incentive compatibility of one-shot referenda.…”

Section: Welfare Measures For the Scope Sensitivity Testmentioning

confidence: 99%

Consistency and construction in stated WTP for health risk reductions: A novel scope-sensitivity test

Bateman¹,

Brouwer²

2006

Resource and Energy Economics

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“…The first is that many recent high-quality CV surveys have elicited information about WTP using dichotomous-choice questions. Dichotomous-choice questions have been shown to be incentive compatible (Hoehn and Randall, 1987), and are generally thought to be easier…”

Section: Introductionmentioning

confidence: 99%

Robustness of VSL Values from Contingent Valuation Surveys

Alberini

2004

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Robustness of VSL Values from Contingent Valuation Surveys SummaryThis paper examines factors that may influence the estimates of the Value of a Statistical Life obtained from contingent valuation surveys that elicit the willingness to pay (WTP) for mortality risk reductions. We examine the importance of distributional assumptions, the choice of the welfare statistics of interest, the procedure for computing them, outliers, undesirable response effects, and internal validity of the WTP responses. We illustrate the importance of these factors using dichotomous-choice and open-ended WTP data from four recent contingent valuation surveys.

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A satisfactory benefit cost indicator from contingent valuation

Cited by 386 publications

References 12 publications

Further tests of entreaties to avoid hypothetical bias in referendum contingent valuation

Further tests of entreaties to avoid hypothetical bias in referendum contingent valuation

Consistency and construction in stated WTP for health risk reductions: A novel scope-sensitivity test

Robustness of VSL Values from Contingent Valuation Surveys

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