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Contingent Valuation and Collective Choice

Felix Schläpfer and Nick Hanley ()

Kyklos, 2006, vol. 59, issue 1, 115-135

Abstract: Contingent valuation (CV) is a widely used but controversial survey‐based technique for estimating the nonmarket benefits of environmental goods and services. This study is the first to compare the outcome of a self‐contained CV survey with the outcome of a collective decision, by contrasting hypothetical willingness to pay with willingness to pay inferred from aggregate voting returns and tax liability distributions. The empirical dataset is from a CV survey and a referendum on a proposition to increase financing for landscape and heritage protection in the canton of Zurich, Switzerland. Voting‐based willingness to pay was only a small fraction of stated willingness to pay, indicating an inflation in values due to the hypothetical context.

Date: 2006
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Handle: RePEc:bla:kyklos:v:59:y:2006:i:1:p:115-135