Economics at your fingertips  

An Adding-up Test on Contingent Valuations of River and Lake Quality

William Desvousges, Kristy Mathews and Kenneth Train ()

Land Economics, 2015, vol. 91, issue 3, 556-571

Abstract: For a contingent valuation (CV) study of a bundle of water quality improvements, this paper tests whether the sum of the estimated willingness to pay (WTP) for each individual part of the package, evaluated incrementally, equals the estimated WTP for the entire bundle—as implied by standard utility theory. This is the first application of the adding-up test using incremental parts and Carson and Groves’s (2007) procedures to induce truthful respondents’ answers. The test is failed, which implies that either the CV method did not elicit truthful answers or that respondents’ true preferences are inconsistent with standard utility theory.

JEL-codes: Q51 (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (10) Track citations by RSS feed

Downloads: (external link)
A subscripton is required to access pdf files. Pay per article is available.

Related works:
Chapter: An adding-up test on contingent valuations of river and lake quality (2017) 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:

Access Statistics for this article

More articles in Land Economics from University of Wisconsin Press
Bibliographic data for series maintained by ().

Page updated 2019-09-29
Handle: RePEc:uwp:landec:v:91:y:2015:i:3:p:556-571