Temporal Reliability of Estimates from Contingent Valuation

Richard Carson, Michael Hanemann (), Raymond Kopp, Jon A. Krosnick, Robert C. Mitchell, Stanley Presser, Paul Ruud and V. Smith

No 95-05, Working Papers from Duke University, Department of Economics

Abstract: In 1992 the National Oceanic and Atmospheric Administration (NOAA) convened a panel of prominent social scientists to assess the reliability of natural resource damage estimates derived from contingent valuation (CV). The product of the panel's deliberations was a report that laid out a set of recommended guidelines for CV survey design, administration, and data analysis. This paper focuses on one of these guidelines -- the Panel's call for the "temporal averaging" of willingness-to-pay (WTP) responses obtained from CV surveys as one method for increasing their reliability. The panel suggested: "Time dependent measurement noise should be reduced by averaging across independently drawn samples taken at different points in time. A clear and substantial time trend in the responses would cast doubt on the 'reliability' of the finding."

JEL-codes: D60 D61 K32 Q28 (search for similar items in EconPapers)
Date: 1995
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Citations: View citations in EconPapers (8)

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Related works:
Journal Article: Temporal Reliability of Estimates from Contingent Valuation (1997)
Working Paper: Temporal Reliability of Estimates from Contingent Valuation (1995)
Working Paper: Temporal Reliability of Estimates from Contingent Valuation (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:duk:dukeec:95-05

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