Statistical efficiency of double-bounded dichotomous choice contingent valuation

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 great...

Full description

Saved in:
Bibliographic Details
Published in:American journal of agricultural economics 1991-11, Vol.73 (4), p.1255-1263
Main Authors: Hanemann, M. (University of California, Berkeley), Loomis, J, Kanninen, B
Format: Article
Language:English
Subjects:
ANALISIS ESTADISTICO
ANALYSE STATISTIQUE
Bidding
CALIFORNIA
CALIFORNIE
Confidence interval
contingent valuation
Design efficiency
Economic surveys
ENCUESTAS
ENQUETE
ESTIMACION
Estimators
Experiment design
FAUNE ET FLORE SAUVAGES
HABITAT
MODELE MATHEMATIQUE
MODELOS MATEMATICOS
Point estimators
PRISE DE DECISION
Q260
Questionnaires
TERRE HUMIDE
TIERRAS HUMEDAS
TOMA DE DECISIONES
VALEUR D'ESTIMATION
Valuation
VIDA SILVESTRE
Wetlands
wildlife
Wildlife habitats
willingness to pay
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary: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, "single-bounded" 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
ISSN:0002-9092
1467-8276
DOI:10.2307/1242453