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| Bateman, Ian J.; Day, Brett H.; Dupont, Diane P.; Georgiou, Stavros. |
| The contingent valuation method for estimating willingness to pay for public goods typically adopts a single referendum question format which is statistically inefficient. As an alternative, Cooper, Hanemann and Signorello (2002) propose the 'one-and-one-half bound' (OOHB) format allowing researchers to question respondents about both a lower and higher limit upon project costs, thereby securing substantial statistical efficiency gains. These bounds are presented prior to the elicitation of responses thereby avoiding the negative 'surprise' induced by an unanticipated second question. However, this approach conflicts with the Gibbard-Satterthwaite result that only a single referendum format question is incentive compatible. The OOHB method may... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2006 |
URL: http://purl.umn.edu/21104 |
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