The double bounded dichotomous choice format has been proven to improve efficiency in contingent valuation models. However, this format has been criticized due to lack of behavioral and statistical consistencies between the first and the second responses. In this study a split sampling...

Recent research shows that disparities between willingness to pay (WTP) and willingness to accept (WTA) disappear with market experience and training. In effect, preferences can be refined by eliminating subjects’ misconceptions regarding elicitation procedures. We use a stated measure of...

The retail electricity market in New Zealand is evolving as the government continues to promote the development of a competitive and efficient market. Encouraging consumer switching through the “What’s My Number” campaign is expected to put pressure on electricity retailers to reduce...

While historians believe that preserving a historic building in its original location is important to maintain its historic integrity, the general publicÂ’s opinion is unknown. Survey data were gathered from local residents regarding a proposed relocation of a historic mill in rural West...

Overtime per capita water availability in the world as well as in Pakistan has been declining. Water sources have depleted and become polluted therefore, now water has become a scarce good. Resultantly, the inadequate water supply, sanitation, and hygiene are rooting major environmental...

In a static setting, willingness to pay for an environmental improvement is equal to compensating variation. However, in a dynamic setting characterized by uncertainty, irreversibility, and the potential for learning, willingness to pay may also contain an option value. In this paper, we...

This research is aimed at investigating the consumer’s preference for food produced in Taiwan and the economic benefits for the country of origin labeling. The study uses both experimental auction and contingent valuation method (CVM) to investigate factors that affect the consumer’s...