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Welfare Measurements Using Contingent Valuation: A Comparison of Techniques
Abstract
Three commonly used techniques of asking contingent valuation questions are compared: iterative bidding, payment cards, and dichotomous choice. The results reveal that no single contingent valuation technique is neutral in the elicitation of hicksian surplus and each technique has its strengths and weaknesses. The iterative bidding estimates contain a starting point bias, while the payment card and dichotomous choice estimates were influenced by the interviewers soliciting the contingent values. Finally, the analysis of dichotomous choice responses involves unresolved issues that warrant further investigation. On the other hand, dichotomous choice is the easiest technique to administer in a survey setting.
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Citations
Cited by
Kristrom, B. (1990) · Land Economics · doi:10.2307/3146363 · Cited by 379
Measuring Natural Resource Damages with Contingent Valuation: Tests of Validity and Reliability
DESVOUSGES, W. H., JOHNSON, F. R., DUNFORD, R. W., HUDSON, S. P., WILSON, K. N., & BOYLE, K. J. (1993) · Contributions to Economic Analysis · doi:10.1016/b978-0-444-81469-2.50009-2 · Cited by 332
Self-citationElicitation and truncation effects in contingent valuation studies
Bateman, I. J., Langford, I. H., Turner, R. K., Willis, K. G., & Garrod, G. D. (1995) · Ecological Economics · doi:10.1016/0921-8009(94)00044-v · Cited by 269
Willingness to pay for antihypertensive therapy — further results
Johannesson, M., Johansson, P.-O., Kriström, B., & Gerdtham, U.-G. (1993) · Journal of Health Economics · doi:10.1016/0167-6296(93)90042-d · Cited by 124
Metadata
- Authors
- Boyle, K. J., & Bishop, R. C.
- Venue
- American Journal of Agricultural Economics
- Publisher
- Wiley
- Published
- 1988-02
- Volume
- 70
- Issue
- 1
- Pages
- 20-28
- ISSN
- 0002-9092 (ISSN-L)
- 1467-8276
- OpenAlex
- W2137166340
- Cited by
- 228
- References
- 0
- FWCI
- 26.75
- Type
- journal article
- Language
- en
- Open access
- closed
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