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A cognitive psychological approach of analyzing preference uncertainty in contingent valuation AgEcon
Akter, Sonia; Bennett, Jeffrey W..
The sources of preference uncertainty in contingent valuation (CV) studies have rarely been investigated from a theoretical standpoint. This paper proposes a holistic theoretical framework of preference uncertainty that combines microeconomic theory with the theories of cognitive psychology. Empirical testing of the proposed theoretical model was carried out in Australia in the context of a national ‘Carbon Pollution Reduction Scheme (CPRS)’ to be introduced in 2010. Two separate ordered probit models for a certainty score associated with CV ‘Yes’ and ‘No’ responses were estimated. The results of the estimated regression models provide evidence supporting the hypotheses drawn from the theoretical model.
Tipo: Conference Paper or Presentation Palavras-chave: Contingent valuation; Preference uncertainty; Cognitive uncertainty; Climate change; Australia.
Ano: 2009 URL: http://purl.umn.edu/47938
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Testing construct validity of verbal versus numerical measures of preference uncertainty in contingent valuation AgEcon
Akter, Sonia; Bennett, Jeffrey W..
The numerical certainty scale (NCS) and polychotomous choice (PC) methods are two widely used techniques for measuring preference uncertainty in contingent valuation (CV) studies. The NCS follows a numerical scale and the PC is based on a verbal scale. This report presents results of two experiments that use these preference uncertainty measurement techniques. The first experiment was designed to compare and contrast the uncertainty scores obtained from the NCS and the PC method. The second experiment was conducted to test a preference uncertainty measurement scale that combines verbal expressions with numerical and graphical interpretations: a composite certainty scale (CCS). The construct validity of the certainty scores obtained from these three...
Tipo: Report Palavras-chave: Preference uncertainty; Contingent valuation; Numerical certainty scale; Polychotomous choice method; Composite certainty scale; Climate change; Australia.; Environmental Economics and Policy; Research Methods/ Statistical Methods; Q51; Q54.
Ano: 2010 URL: http://purl.umn.edu/94942
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