Trust, Responsibility and the Interpretation of Contingent Valuation Results

Russell K. Blamey

Australian Economic Papers, 1998, vol. 37, issue 3, 273-291

Abstract: Responses to contingent valuation questionnaires are contingent on respondent perceptions of trust and responsibility regarding aspects of the scenario presented to them. These issues can influence CV responses in several ways, with the net effect on WTP estimates depending on the relative prevalence of the different opposing effects in a given application. Whether such effects are to be considered biases, to be removed where possible, depends on the notion of validity one adopts. Whilst issues of trust and responsibility may pose little threat to predictive notions of validity, they are more problematic from a surplus validity, cost‐benefit, perspective. Further discussion of the pros and cons of different validity notions for contingent valuation is required.

Date: 1998
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