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 language | English |
|---|---|
| Pages (from-to) | 691-695 |
| Number of pages | 5 |
| Journal | Applied Economics Letters |
| Volume | 14 |
| Issue number | 9 |
| DOIs | |
| Publication status | Published - 2007 Jul 1 |
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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 journal › Article
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TY - JOUR
T1 - An investigation of preference uncertainty in the contingent valuation study
AU - Chang, Jeong I.
AU - Yoo, Seung Hoon
AU - Kwak, Seung-Jun
PY - 2007/7/1
Y1 - 2007/7/1
N2 - 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.
AB - 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.
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UR - http://www.scopus.com/inward/citedby.url?scp=34547574277&partnerID=8YFLogxK
U2 - 10.1080/13504850600592713
DO - 10.1080/13504850600592713
M3 - Article
AN - SCOPUS:34547574277
VL - 14
SP - 691
EP - 695
JO - Applied Economics Letters
JF - Applied Economics Letters
SN - 1350-4851
IS - 9
ER -