What Experimental Protocol Influence Disparities Between Actual and Hypothetical Stated Values?
John List () and
Environmental & Resource Economics, 2001, vol. 20, issue 3, 241-254
Preferences elicited in hypothetical settings have recently come underscrutiny, causing estimates from the contingent valuation method to bechallenged due to perceived ``hypothetical bias.'' Given that the receivedliterature derives value estimates using heterogeneous experimentaltechniques, understanding the effects of important design parameters onthe magnitude of hypothetical bias is invaluable. In this paper, we addressthis issue statistically by using a meta-analysis to examine data from 29experimental studies. Our empirical findings suggest that on averagesubjects overstate their preferences by a factor of about 3 in hypotheticalsettings, and that the degree of over-revelation is influenced by thedistinction between willingness-to-pay and willingness-to-accept, publicversus private goods, and several elicitation methods. Copyright Kluwer Academic Publishers 2001
Keywords: CVM; hypothetical bias; meta-analysis (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (295) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:enreec:v:20:y:2001:i:3:p:241-254
Ordering information: This journal article can be ordered from
http://www.springer. ... al/journal/10640/PS2
Access Statistics for this article
Environmental & Resource Economics is currently edited by Ian J. Bateman
More articles in Environmental & Resource Economics from Springer, European Association of Environmental and Resource Economists Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().