Chapter

Willingness‐To‐Pay Question Format Effects in Contingent Valuation Studies

Ian J. Bateman, Ian H. Langford and Jon Rasbash

in Valuing Environmental Preferences

Published in print November 2001 | ISBN: 9780199248919
Published online November 2003 | e-ISBN: 9780191595950 | DOI: http://dx.doi.org/10.1093/0199248915.003.0015
 Willingness‐To‐Pay Question Format Effects in Contingent Valuation Studies

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The willingness‐to‐pay (WTP) or willingness‐to‐accept (WTA) question is the central focus of any contingent evaluation (CV) exercise, and is the point at which the valuation being sought is elicited. However, a review of the literature reveals a variety of methods for asking such questions, and in this chapter results are presented from a study examining the impact of varying the elicitation method for WTP responses, and the results show that each is open to criticism. Five approaches are assessed: open‐ended, single‐bound dichotomous‐choice, double‐bound dichotomous‐choice, triple‐bound dichotomous‐choice, and iterative bidding. Particular attention is paid to the dichotomous‐choice approaches, which are dominant in recent literature.

Keywords: contingent evaluation; dichotomous‐choice; double‐bound dichotomous‐choice; elicitation method; iterative bidding; open‐ended choice; question format; single‐bound dichotomous‐choice; triple‐bound dichotomous‐choice; willingness to accept; willingness to pay

Chapter.  12334 words.  Illustrated.

Subjects: Economic Development and Growth

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