An investigation of preference uncertainty in the contingent valuation study

Jeong I. Chang, Seung Hoon Yoo, Seung-Jun Kwak

Research output: Contribution to journalArticle

14 Citations (Scopus)

Abstract

This study investigates the respondents' preference uncertainty in the dichotomous choice (DC) contingent valuation study for gathering information on willingness to pay (WTP). To this end, we use polychotomous choice (PC) question and DC question with certainty level for two split samples. We find that incorporating preference uncertainty has a significant effect on the WTP estimates and, more importantly, the DC question with certainty level produces more efficient WTP estimate than the PC question.

Original languageEnglish
Pages (from-to)691-695
Number of pages5
JournalApplied Economics Letters
Volume14
Issue number9
DOIs
Publication statusPublished - 2007 Jul 1

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Preference uncertainty
Willingness-to-pay
Dichotomous choice
Contingent valuation
Polychotomous choice
Information gathering
End use

ASJC Scopus subject areas

  • Economics and Econometrics

Cite this

An investigation of preference uncertainty in the contingent valuation study. / Chang, Jeong I.; Yoo, Seung Hoon; Kwak, Seung-Jun.

In: Applied Economics Letters, Vol. 14, No. 9, 01.07.2007, p. 691-695.

Research output: Contribution to journalArticle

Chang, Jeong I. ; Yoo, Seung Hoon ; Kwak, Seung-Jun. / An investigation of preference uncertainty in the contingent valuation study. In: Applied Economics Letters. 2007 ; Vol. 14, No. 9. pp. 691-695.
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