VALIDATING CONTINGENT VALUATION WITH SURVEYS OF EXPERTS

Kevin Boyle, Michael P. Welsh, Richard C. Bishop and Robert M. Baumgartner

Agricultural and Resource Economics Review, 1995, vol. 24, issue 2, 8

Abstract: Contingent-valuation estimates for white-water boating passengers are compared with Likert ratings by river guides. The approach involves asking whether passengers and their guides ordinally rank alternative flows the same. The National Oceanic and Atmospheric Administration's Contingent Valuation Panel (1993) suggested "one might want to compare its (contingent-valuation's) outcome with that provided by a panel of experts." River guides constitute a counterfactual panel of "experts." For commercial trips, optimum flows are 34,000 cfs and 31,000 cfs for passengers and guides, and the comparable figures for private trips are 28,000 cfs and 29,000 cfs. In the NOAA Panel framework, passengers can evaluate the consequences of various river flows and translate this into contingent-valuation responses.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Date: 1995
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
https://ageconsearch.umn.edu/record/31589/files/24020247.pdf (application/pdf)

Related works:
Journal Article: Validating Contingent Valuation with Surveys of Experts (1995)
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: https://EconPapers.repec.org/RePEc:ags:arerjl:31589

DOI: 10.22004/ag.econ.31589

Access Statistics for this article

More articles in Agricultural and Resource Economics Review from Northeastern Agricultural and Resource Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().