Willingness to Pay for Biodiesel in Diesel Engines: A Stochastic Double Bounded Contingent Valuation Survey

P. Wilner Jeanty, Tim Haab () and Fred Hitzhusen

No 9868, 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The double bounded dichotomous choice format has been proven to improve efficiency in contingent valuation models. However, this format has been criticized due to lack of behavioral and statistical consistencies between the first and the second responses. In this study a split sampling methodology was used to determine whether allowing respondents to express uncertainty in the follow-up question would alleviate such inconsistencies. Results indicate that allowing respondents to express uncertainty in the follow-up question was effective at reducing both types of inconsistencies while efficiency gain is maintained.

Keywords: Biodiesel; diesel; environmental benefits; contingent valuation; willingness to pay; double bounded model; and statistical and behavioral inconsistencies; Demand and Price Analysis; Resource /Energy Economics and Policy; I18; L91; Q42; Q51; Q53 (search for similar items in EconPapers)
Date: 2007

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Persistent link: http://EconPapers.repec.org/RePEc:ags:aaea07:9868

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