A Contingent Valuation Test for Measuring the Construct Validity of Willingness-to-Pay Estimates Derived from Choice Experiments

Romain Crastes dit Sourd, Olivier Beaumais, Pierre-Alexandre Mahieu, Pablo Martínez-Camblor and Riccardo Scarpa

Land Economics, 2021, vol. 97, issue 3, 608-625

Abstract: We introduce a protocol for measuring the construct validity of competing willingness-to-pay (WTP) distributions derived from mixed logit models. The protocol is based on a two-round survey. Round 1 consists in a standard discrete choice experiment (DCE) sample survey, at the end of which competing models are estimated. Round 2 introduces additional respondents who, in addition to taking part in the DCE, are asked to identify the money value interval that better reflects their preferences using a set of values drawn from the estimated range of WTPs obtained from competing models estimated on the previous sample.

JEL-codes: Q51 (search for similar items in EconPapers)
Date: 2021
Note: DOI: 10.3368/wple.97.3.102219-0150R1
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Working Paper: A Contingent Valuation Test for Measuring the Construct Validity of Willingness-To-Pay Estimates Derived from Choice-Experiments (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:97:y:2021:i:3:p:608-625

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