TY - JOUR
T1 - An investigation of preference uncertainty in the contingent valuation study
AU - Chang, Jeong In
AU - Yoo, Seung Hoon
AU - Kwak, Seung Jun
N1 - Copyright:
Copyright 2008 Elsevier B.V., All rights reserved.
PY - 2007/7
Y1 - 2007/7
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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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 -