Explaining Disparities between Actual and Hypothetical Stated Values: Further Investigation Using Meta-Analysis

Joseph Little () and Robert P. Berrens
Additional contact information
Joseph Little: University of New Mexico

Economics Bulletin, 2004, vol. 3, issue 6, pages 1-13

Abstract: Spurred by the need to account for non-market values in various policy applications, a lively and extended debate has surrounded the presence and magnitude of hypothetical bias in stated value studies (e.g., applications of the survey-based contingent valuation method). Using the rapidly accumulating set of comparison studies, List and Gallet (2001) conducted an initial meta-analysis of the experimental protocol that may be influencing the disparity between real and hypothetical values in stated value studies. We expand the original meta-analysis by using a significantly larger (29%) data set, including variables to account for referendum formats, certainty corrections, and cheap talk scripts.

Keywords: hypothetical bias; meta-analysis; valuation (search for similar items in EconPapers)
JEL-codes: C9 C1 (search for similar items in EconPapers)
Date: 2004-03-01
View list of references View citations in EconPapers

Downloads: (external link)
http://www.economicsbulletin.com/2004/volume3/EB-03C90005A.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:ebl:ecbull:v:3:y:2004:i:6:p:1-13

Access Statistics for this article

More articles in Economics Bulletin from Economics Bulletin
Address: Economics Bulletin, Department of Economics, 414 Calhoun Hall, Vanderbilt University, Nashville TN 37235, USA
Series data maintained by John Conley ().