Procedural invariance testing of the one-and-one-half-bound dichotomous choice elicitation method

Bateman, IJ, Day, BH, Dupont, D and Georgiou, S (2009) Procedural invariance testing of the one-and-one-half-bound dichotomous choice elicitation method. The Review of Economics and Statistics, 91 (4). pp. 806-820. ISSN 1530-9142

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Abstract

The contingent valuation method for estimating willingness to pay for public goods typically adopts a single referendum question format, which is relatively statistically inefficient. As an alternative, Cooper, Hanemann, and Signorello (2002) propose the one-and-one-half bound (OOHB) format, allowing researchers to question respondents about both a lower and higher limit on project costs, thereby securing substantial gains in statistical efficiency. Using an experimental design, we find that responses to OOHB valuation questions fail crucial tests of procedural invariance. We test various competing models of observed response patterns including strategic misrepresentation of standard preferences and nonstandard models of preference formation.

Item Type: Article
Faculty \ School: Faculty of Science > School of Environmental Sciences
Related URLs:
Depositing User: Rachel Snow
Date Deposited: 23 Feb 2011 11:17
Last Modified: 21 Apr 2020 17:31
URI: https://ueaeprints.uea.ac.uk/id/eprint/24567
DOI: 10.1162/rest.91.4.806

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