A COMPARISON OF CHEAP TALK AND ALTERNATIVE CERTAINTY CALIBRATION TECHNIQUES IN CONTINGENT VALUATION

Mihail Samnaliev, Thomas H. Stevens and Thomas More

No 14517, Working Paper Series from University of Massachusetts, Amherst, Department of Resource Economics

Abstract: A field test of cheap talk and two types of certainty calibration in contingent valuation of public lands indicated that cheap talk does not reduce WTP estimates. Use of a ten point certainty calibration scale reduces WTP estimates by about half. However, adjusting for uncertainty using a 'Not Sure' option does not reduce WTP estimates but increases the variance in responses. There may be a conceptual difference between these two ways of accounting for respondents' uncertainty, which may suggest why they provide different WTP value estimates and variances.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 30
Date: 2003
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:umamwp:14517

DOI: 10.22004/ag.econ.14517

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