A test of the answering mechanisms of the double-bounded contingent valuation method

Joo Heon Park

Applied Economics Letters, 2003, vol. 10, issue 15, 975-984

Abstract: The double-bounded contingent valuation method (DBCVM) has long been criticized as an inappropriate estimation method because of respondents' inconsistent behavior during a course of DBCVM survey. Many experimental studies have reported that two subsequent answers are not made independently, but the second answer depends upon the first. There are many kinds of hypotheses, each of which contends a different pattern of dependence of the answers. In this study, it will be tested which hypothesis is more appropriate in explaining the dependence of the answers. For the test, the DBCVM under uncertainty is newly developed here in which some uncertainties associated with the CVM are recognized and the risk premium plays a criterion for respondents to answer.

Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.informaworld.com/openurl?genre=article& ... 40C6AD35DC6213A474B5 (text/html)
Access to full text is restricted to subscribers.

Related works:
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:taf:apeclt:v:10:y:2003:i:15:p:975-984

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/1350485032000164378

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().