The double-bounded dichotomous choice model is becoming popular in the contingent valuation literature. This technique considers the responses to two bids, the second one being determined according to the response to the first, and it has been shown to be statistically more efficient than the...

A literature search provides 83 studies from which 616 comparisons of contingent valuation (CV) to revealed preference (RP) estimates are made. Summary statistics of the CV/RP ratios are provided for the complete dataset, a 5 percent trimmed dataset, and a weighted dataset that gives equal...

In 1992 the National Oceanic and Atmospheric Administration (NOAA) convened a panel of prominent social scientists to assess the reliability of natural resource damage estimates derived from contingent valuation (CV). The panel recommended that "time dependent measurement noise should be reduced...

We compare cost-of-illness (COI) and willingness-to-pay (WTP) estimates of the damages from minor respiratory symptoms associated with air pollution, using data from a study in Taiwan in 1991-92. A contingent valuation survey was conducted to estimate WTP to avoid minor respiratory illnesses....

This paper considers models of willingness to pay (WTP) based on dichotomous choice contingent valuation survey data and examines the effect of the survey design on tests of goodness of fit. Simulations show that eliciting single binary responses result in tests that have low power in detecting...