EconPapers    
Economics at your fingertips  
 

Referendum contingent valuation, anchoring, and willingness to pay for public goods

Donald Green, Karen E. Jacowitz, Daniel Kahneman and Daniel McFadden

Resource and Energy Economics, 1998, vol. 20, issue 2, 85-116

Abstract: This study reports on experiments that examine anchoring in single referendum questions in contingent valuation surveys on willingness to pay for public goods, and on objective estimation. Strong anchoring effects are found that lead to systematically higher estimated mean responses from Yes/No referendum responses than from open-ended responses. This response pattern is similar for contingent valuation questions and for objective estimation questions. The paper concludes that psychometric anchoring effects, rather than incentive effects, are the likely cause of results commonly found in contingent valuation studies, and that the currently popular single referendum elicitation format is highly vulnerable to anchoring.

Date: 1998
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (156) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0928-7655(97)00031-6
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Referendum Contingent Valuation, Anchoring, and Willingness to Pay for Public Goods (1995) Downloads
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:eee:resene:v:20:y:1998:i:2:p:85-116

Access Statistics for this article

Resource and Energy Economics is currently edited by J. F. Shogren and S. Smulders

More articles in Resource and Energy Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-09-27
Handle: RePEc:eee:resene:v:20:y:1998:i:2:p:85-116