eCommons

 

Does Specification Error Explain the Discrepancy Between Open-Ended and Dichotomous Choice Contingent Valuation Responses? A Comment on Monte Carlo Benchmarks for Discrete Valuation Methods by Ju-Chin Huang and V. Kerry Smith

Other Titles

Abstract

In this working paper we demonstrate that some of the statistical tests used by Huang and Smith in a recent Land Economics article (74(2 1998): 186-202) were erroneous, and raise concerns about their corresponding conclusions. Specifically, using data from one of the studies that they showcase, we demonstrate that Huang and Smith’s analysis suggesting statistical equality between hypothetical dichotomous choice responses and actual contributions is incorrect. We further show that their purported equality between dichotomous choice and open-ended response formats is unfounded. Based on these analyses we conclude that when real humans make real or stated decisions, the observed procedural variance across elicitation methods and the degree of hypothetical bias are more fundamental than relying on alternative econometric specifications.

Journal / Series

Volume & Issue

Description

WP 2001-18 September 2001

Sponsorship

Funding for this research was provided by USDA Regional Project W-133 and Cornell University.

Date Issued

2001-09

Publisher

Charles H. Dyson School of Applied Economics and Management, Cornell University

Keywords

Location

Effective Date

Expiration Date

Sector

Employer

Union

Union Local

NAICS

Number of Workers

Committee Chair

Committee Co-Chair

Committee Member

Degree Discipline

Degree Name

Degree Level

Related Version

Related DOI

Related To

Related Part

Based on Related Item

Has Other Format(s)

Part of Related Item

Related To

Related Publication(s)

Link(s) to Related Publication(s)

References

Link(s) to Reference(s)

Previously Published As

Government Document

ISBN

ISMN

ISSN

Other Identifiers

Rights

Rights URI

Types

article

Accessibility Feature

Accessibility Hazard

Accessibility Summary

Link(s) to Catalog Record