Treating respondent uncertainty in contingent valuation: a comparison of empirical treatments

S. Shaikh, L. Sun, G.C. van Kooten

Research output: Contribution to journalArticleAcademicpeer-review

61 Citations (Scopus)

Abstract

This research examines the impact of uncertainty on contingent valuation responses using (1) a survey of Canadian landowners about willingness to accept compensation for converting cropland to forestry and (2) a survey of Swedish residents about willingness to pay for forest conservation. Five approaches from the literature for incorporating respondent uncertainty are used and compared to the traditional random utility model with assumed certainty. The results indicate that incorporating uncertainty has the potential to increase fit, but could introduce additional variance. While some methods for uncertainty can be an improvement over traditional approaches, it is imperative to exercise caution when making systematic judgments about the effect of uncertainty on contingent valuation responses.
Original languageEnglish
Pages (from-to)115-125
JournalEcological Economics
Volume62
Issue number1
DOIs
Publication statusPublished - 2007

Keywords

  • willingness-to-pay
  • preference uncertainty
  • discrete-choice
  • climate-change
  • responses
  • model

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