A Comparison of Value Elicitation Question Formats in Multiple-Good Contingent Valuation
Joseph Herriges (),
Catherine Kling (),
Silvia Secchi (),
Joan I. Nassauer () and
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Joan I. Nassauer: School of Natural Resources and Environment, University of Michigan, Ann Arbor, MI 48103, USA
Frontiers of Economics in China, 2014, vol. 9, issue 1, 85-108
This paper provides a convergent validity test of two types of multinomial choice questions vis-¨¤-vis a dichotomous choice question by formally testing whether these stated preference elicitation question formats provide comparable welfare estimates. In particular, a dichotomous choice question, a traditional multinomial choice question, and a modified multinomial choice question suggested by Carson and Groves (2007) were applied in split samples to assess the influence of the informational and incentive properties on the respondents¡¯ annual willingness to accept compensation for adopting costly conservation practices in agriculture that benefit the environment. Our findings suggest that the two multinomial choice question formats elicit a similar mean willingness to accept distributions, but they are both different from a standard dichotomous choice question. Further, the willingness to accept distributions derived from the multinomial choice question formats are more dispersed than those from the dichotomous choice question.
Keywords: stated preference; choice experiment; dichotomous choice; incentive compatibility; multinomial choice (search for similar items in EconPapers)
JEL-codes: C78 Q24 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:fec:journl:v:9:y:2014:i:1:p:85-108
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