One-and-One-Half Bound Dichotomous Choice Contingent Valuation

Joseph Cooper (), Michael Hanemann () and Giovanni Signorello

No 25003, CUDARE Working Papers from University of California, Berkeley, Department of Agricultural and Resource Economics

Abstract: To reduce the potential for response bias on the follow-up bid in multiple-bound discrete choice CVM questions while maintaining much of the efficiency gains of the multiple-bound approach, we introduce the one-and-one-half-bound (OOHB) approach. Despite the fact that the OOHB model uses less information than the double-bound (DB) approach, efficiency gains in moving from single-bound to OOHB capture a large portion of the gain associated with moving from single-bound to DB. In an analysis of survey data, our OOHB estimates demonstrated higher consistency with respect to the follow-up data than the DB estimates and were more efficient as well.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 35
Date: 2001
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: One-and-One-Half-Bound Dichotomous Choice Contingent Valuation (2002)
Working Paper: One and One-Half Bound Dichotomous Choice Contingent Valuation (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ucbecw:25003

DOI: 10.22004/ag.econ.25003

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