Realism Versus Statistical Efficiency: A Note on Contingent Valuation with Follow-up Queries

Ricardo Faria (), Raul Matsuhita (), Jorge Nogueira and Benjamin Tabak

Atlantic Economic Journal, 2007, vol. 35, issue 4, 462 pages

Abstract: This paper shows that we can improve the statistical efficiency of dichotomous choice contingent valuation surveys by asking a second open question (anchored open-ended approach) instead of the traditional double-bounded approach. The former approach is shown to be more efficient than conventional single and double-bounded approaches using a Monte Carlo experiment, even when we allow for strategic behavior from respondents such as protest votes and yea-saying behavior. Copyright International Atlantic Economic Society 2007

Keywords: Contingent valuation; Statistical efficiency; Single-bounded; Double-bounded; Q26 (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/s11293-007-9082-x

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