Consequentiality and contingent values: an emerging paradigm

Gregory Poe and Christian Vossler

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper we summarize the theoretical arguments of Carson and Groves, et al., and assemble early empirical evidence that comports with this theoretical framework. In doing so, we argue that redefining criterion validity in terms of consequentiality offers the potential for a fundamental paradigm shift in the Kuhnian sense. That this shift has yet to be fully incorporated into the contingent valuation literature reflects the nascent state of this paradigmatic challenge as well as the continued inertia of the dominant hypothetical bias paradigm. Further, empirical support for Carson and Groves, et al.’s consequentiality arguments have emerged in a somewhat piecemeal manner, spread across a diverse set of journal articles and unpublished manuscripts

Keywords: contingent valuation; consequentiality; mechanism design (search for similar items in EconPapers)
JEL-codes: B21 H41 Q51 (search for similar items in EconPapers)
Date: 2009-09-13
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

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