Does willingness to pay reflect the purchase of moral satisfaction? A reconsideration of Kahneman and Knetsch
Article Abstract:
D. Kahneman and J.L. Knetsch's paper which used the contingent valuation method to test two hypotheses on willingness to pay and moral satisfaction contains a cross-level inference error. The latter, which stems from incorrect interpretation of aggregated data, is the reason why their results cannot support the validity of their second hypothesis. This also explains why the mean within-respondent correlation between moral satisfaction and willingness to pay cannot be computed, as they claimed.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1995
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Must contingent valuation surveys cost so much?
Article Abstract:
The question of whether contingent valuation survey costs are exorbitant was studied in the context of the valuation survey conducted on the environmental damages caused by the Exxon Valdez oil spill. An alternative approach suggested was a 'convenience sample' which developed a statistical model of valuation attitudes. It was concluded that a 'convenience sample,' which would cost considerably less than the survey conducted on the Exxon Valdez incident, would produce adequate data.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1996
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Valuing public goods with the contingent valuation method: a critique of Kahneman and Knetsch
Article Abstract:
A comment on an article on the dangers of the usage of the contingent valuation method is presented. An embedding effect is said to affect the willingness to pay variable. Results from analysis indicatesthat the article in question made use of inappropriate tests and procedures. Upon correction, the data is congruent with economic theory. Also, the operational definition of moral satisfaction is not explicitly articulated.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1992
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