Efficiency gains afforded by improved bid design versus follow-up valuation questions in discrete choice CV studies

Scarpa, Riccardo and Bateman, Ian (2000) Efficiency gains afforded by improved bid design versus follow-up valuation questions in discrete choice CV studies. Land Economics, 76 (2). pp. 299-311.

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Abstract

Interval data analysis of CV discrete choice responses delivers efficiency gains which must be weighed against the risk of introducing strategic response bias. Efficiency gains are also achievable by improved bid design. We assess these gains on median WTP estimates first in an empirical application, then by means of a Monte Carlo experiment comparing three different bid designs. Improved, but sub-optimal, bid design delivers comparable gains to those achieved by one and two follow-up questions. The first follow-up captures more than 50% of the efficiency gain provided by a second follow-up.

Item Type:	Article
Faculty \ School:	Faculty of Science > School of Environmental Sciences
UEA Research Groups:	Faculty of Science > Research Centres > Centre for Social and Economic Research on the Global Environment (CSERGE) Faculty of Science > Research Groups > Resources, Sustainability and Governance (former - to 2018) Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences
Depositing User:	Rosie Cullington
Date Deposited:	08 Apr 2011 11:06
Last Modified:	14 Aug 2023 11:30
URI:	https://ueaeprints.uea.ac.uk/id/eprint/28655
DOI:	10.2307/3147230

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