Statistical Efficiency of Double‐Bounded Dichotomous Choice Contingent Valuation

Citations Over TimeTop 1% of 1991 papers

Abstract

Abstract The statistical efficiency of conventional dichotomous choice contingent valuation surveys can be improved by asking each respondent a second dichotomous choice question which depends on the response to the first question—if the first response is “yes,” the second bid is some amount greater than the first bid; while, if the first response is “no,” the second bid is some amount smaller. This “double‐bounded” approach is shown to be asymptotically more efficient than the conventional, “singlebounded” approach. Using data from a survey of Californians regarding their willingness to pay for wetlands in the San Joaquin Valley, we show that, in a finite sample, the gain in efficiency can be very substantial.

Related Papers

• → Estimating the Willingness to Pay for the Benefit of AES Using the Contingent Valuation Method(2009)15 cited
• → Reluctant respondents and contingent valuation surveys(2000)8 cited
• → Willingness to Pay for Cleaning up Road Dust in Vientiane(2011)3 cited
• Residents\' Willingness-to-Pay (WTP) for Preservation of Valasht Lake of Chalous City by Using One-and-One-Half-Bound Dichotomous Choice Contingent Valuation Method(2014)
• → Τεχνοοικονομική αξιολόγηση προγραμμάτων αναβάθμισης αστικού και περιαστικού περιβάλλοντος(2019)