We test the hypothesis that respondents stating divergent reasons for choice uncertainty differ in their probability to vote yes in a CV setting. We introduce the use of a follow-up question used to classify uncertain respondents according to reason for uncertainty. Results indicate that...

Sixteen oil spills occurred in Korea between 1995 and 2010, including the Hebei Spirit oil spill (HSOS) in 2007, the largest (77,857 barrels) in Korean history. Yet compensation for environmental damages has never been claimed under the International Oil Pollution Compensation Fund for any of...

This paper revisits the topic of opt-out responses in contingent valuation from a fresh perspective. We first acknowledge the probabilistic nature of referendum-style contingent valuation and set up the expected utility framework. Within this framework, we theoretically find that respondents who...

We question whether RMC surveys satisfy these requirements in three key ways: 1) Is casting multiple votes on a single issue credible? 2) Is there a credible RMC decision rule? And 3) Is the assumption of independence across choice sets credible? We address each of these questions then offer...