An investigation of preference uncertainty in the contingent valuation study

Jeong In Chang; Seung Hoon Yoo; Seung Jun Kwak

doi:10.1080/13504850600592713

An investigation of preference uncertainty in the contingent valuation study

Jeong In Chang, Seung Hoon Yoo, Seung Jun Kwak

Department of Economics

Research output: Contribution to journal › Article › peer-review

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 language	English
Pages (from-to)	691-695
Number of pages	5
Journal	Applied Economics Letters
Volume	14
Issue number	9
DOIs	https://doi.org/10.1080/13504850600592713
Publication status	Published - 2007 Jul

ASJC Scopus subject areas

Economics and Econometrics

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