Validity and Reliability of Contingent Valuation and Life Satisfaction Measures of Welfare: An Application to the Value of National Olympic Success

Brad Humphreys, Bruce Johnson and John Whitehead

No 17-08, Working Papers from Department of Economics, Appalachian State University

Abstract: The contingent valuation method (CV) has long been used to estimate nonmarket values of environmental and other public goods and amenities. Recently, life satisfaction (LS) measures have been used to estimate nonmarket values. This paper empirically compares CV and LS measures of welfare. We elicit willingness-to-pay (WTP) estimates for medals won by Canadian athletes and LS measures using Canadian survey data collected before and after the 2010 Winter Olympic Games. These data permit comparative analyses of reliability and validity of CV and LS measures. Both exhibit econometric reliability. CV and LS WTP estimates for medals increases after the Olympics. CV measures of WTP exhibit temporal reliability but LS measures of welfare lack temporal reliability and are significantly greater than CV measures. Key Words: contingent valuation method; life satisfaction method; willingness-to-pay; validity reliability

JEL-codes: C18 C52 D12 D62 I15 Q51 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-agr, nep-cta, nep-env, nep-hap and nep-spo
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://econ.appstate.edu/RePEc/pdf/wp1708.pdf (application/pdf)

Related works:
Journal Article: Validity and reliability of contingent valuation and life satisfaction measures of welfare: An application to the value of national Olympic success (2020)
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:apl:wpaper:17-08

Access Statistics for this paper

More papers in Working Papers from Department of Economics, Appalachian State University Contact information at EDIRC.
Bibliographic data for series maintained by O. Ashton Morgan ().