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

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

Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series from Department of Agricultural & Resource Economics, UC Berkeley

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.

Date: 2001-02-26
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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)
Working Paper: One-and-One-Half Bound Dichotomous Choice Contingent Valuation (2001)
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