Efficiency gains afforded by improved bid design versus follow-up valuation questions in discrete-choice CV studies.
A study was conducted to compare the efficiency gains derived from improved bid design as against those of follow-up valuation questions in discrete-choice contingent-valuation studies. Data were gathered from an assessment of the respective gains on willingness-to-pay estimates from an empirical a...
| Publicado en: | Land Economics Vol. 76; no. 2; pp. 299 - 312 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
University of Wisconsin Press
May 2000
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| Sumario: | A study was conducted to compare the efficiency gains derived from improved bid design as against those of follow-up valuation questions in discrete-choice contingent-valuation studies. Data were gathered from an assessment of the respective gains on willingness-to-pay estimates from an empirical application and a Monte Carlo experiment comparing three different bid designs. Findings reveal that the initial follow-up captures in excess of 50 percent of the efficiency gains delivered by a subsequent follow-up. Findings imply that comparable gains to those achieved by one and two follow-up questions are delivered by improved—albeit still suboptimal—bid design. |
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