Treatment of 'don't-know' responses in contingent valuation surveys: a random valuation model

Article Abstract:

Use of referendum elicitation method called "don't-know" (DK) responses in contingent valuation (CV) surveys may be analyzed under a utility-theoretic interpretation. A DK response to the CV referendum question may be handled with the utilization of a proposed maximum likelihood procedure for estimating respondent's willingness to pay for a nonmarket good with referendum contingent valuation data that encompasses DK responses. Very close estimates of the mean WTP were derived from the two threshold approaches, Model I and Model II, which involve AML approach and DK value=1, respectively.

Methods, Social surveys

---

Comparing three approaches that generate bids for the referendum contingent valuation method

Article Abstract:

Previous research has proposed several approaches to determine and assign bids in the referendum contingent valuation method for non-market valuation. These include the use of an open-ended pretest survey for willingness-to-pay (WTP) or willingness-to-accept estimates and the use of an iteration process to determine bid amounts and optimal allocation. Monte Carlo data suggest that an open-ended pretest survey is preferred over the other approaches, particularly when there is low variation in WTP.

Usage, Monte Carlo method, Monte Carlo methods

---

Analysis of contingent valuation data with multiple bids and response options allowing respondents to express uncertainity

Article Abstract:

The econometric modeling and response effects associated with multiple-bounded, polychotomous-choice payment, is outlined. This approach can increase the efficiency of welfare estimates, but is not free from bid design effects.

Multiple criteria decision making, Reports, Influence, Payment, Econometric models

Similar abstracts:

• Abstracts: The role of question order and respondent experience in contingent-valuation studies. Rethinking the scope test as a criterion for validity in contingent valuation
• Abstracts: Bias in discrete response contingent valuation. Winners and losers in a world with global warming: noncooperation, altruism, and social welfare
• Abstracts: Optimal bid selection for dichotomous choice contingent valuation surveys. An independent sample test of yea-saying and starting point bias in dichotomous-choice contingent valuation
• Abstracts: Some empirical evidence on embedding effects in contingent valuation of forest protection. Embedding in market demand systems
• Abstracts: Species preservation and biodiversity value: a real options approach. Uncertainty and species recovery program design

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.