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Beyond the crucial experiment: mapping the performance characteristics of contingent valuation

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  • Randall, Alan

Abstract

Through the 1970s and 1980s, contingent valuation (CV) research progressed steadily: applications increased in number and breadth, results gained a degree of credibility, and welfare evaluations from discrete choice data permitted widespread use of policy referendum formats. Following the Exxon Valdez damage assessments, vigorous challenges to CV were mobilized. Instead of the present preoccupation with standardizing CV methods and constructing Popperian tests of CV generically, a broad-based research program is recommended, including proliferation of methods, mapping the performance characteristics of CV, and combining contingent and observed choice data.

Suggested Citation

  • Randall, Alan, 1998. "Beyond the crucial experiment: mapping the performance characteristics of contingent valuation," Resource and Energy Economics, Elsevier, vol. 20(2), pages 197-206, June.
    • Handle: RePEc:eee:resene:v:20:y:1998:i:2:p:197-206
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    2. Diamond, Peter, 1996. "Testing the Internal Consistency of Contingent Valuation Surveys," Journal of Environmental Economics and Management, Elsevier, vol. 30(3), pages 337-347, May.
    3. Adamowicz W. & Louviere J. & Williams M., 1994. "Combining Revealed and Stated Preference Methods for Valuing Environmental Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 26(3), pages 271-292, May.
    4. Hoehn, John P. & Randall, Alan, 1987. "A satisfactory benefit cost indicator from contingent valuation," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 226-247, September.
    5. Richard T. Carson & Nicholas E. Flores & Kerry M. Martin & Jennifer L. Wright, 1996. "Contingent Valuation and Revealed Preference Methodologies: Comparing the Estimates for Quasi-Public Goods," Land Economics, University of Wisconsin Press, vol. 72(1), pages 80-99.
    6. Hanemann, W Michael, 1991. "Willingness to Pay and Willingness to Accept: How Much Can They Differ?," American Economic Review, American Economic Association, vol. 81(3), pages 635-647, June.
    7. Trudy Ann Cameron, 1992. "Combining Contingent Valuation and Travel Cost Data for the Valuation of Nonmarket Goods," Land Economics, University of Wisconsin Press, vol. 68(3), pages 302-317.
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    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Environmental and Natural Resource Economics > Environmental Economics > Valuation > Contingent valuation method

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    Cited by:

    1. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489, March.
    2. Alexandros Apostolakis & Shabbar Jaffry, 2006. "Correcting for Sample Selection Bias in Stated Preference Tourist Surveys," Tourism Economics, , vol. 12(3), pages 451-468, September.
    3. John C. Whitehead, 2024. "They doth protest too much, methinks: Reply to “Reply to Whitehead”," Working Papers 24-04, Department of Economics, Appalachian State University.
    4. Francesco Marangon & Francesca Visintin, 2007. "Rural landscape valuation in a cross-border region," Cahiers d'Economie et Sociologie Rurales, INRA Department of Economics, vol. 84, pages 113-132.
    5. Berrens, Robert P. & Jenkins-Smith, Hank & Bohara, Alok K. & Silva, Carol L., 2002. "Further Investigation of Voluntary Contribution Contingent Valuation: Fair Share, Time of Contribution, and Respondent Uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 44(1), pages 144-168, July.
    6. Hampicke, Ulrich, 2003. "Die monetäre Bewertung von Naturgütern zwischen ökonomischer Theorie und politischer Umsetzung," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 52(08), pages 1-11.
    7. Gonzalez, Juan Marcos & Loomis, John B. & Gonzalez-Caban, Armando, 2006. "Testing Welfare Measurement Gains of Combining Stated and Revealed Preferences Methods Using Count Data Models," 2006 Annual meeting, July 23-26, Long Beach, CA 21203, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Whitehead, John C., 2016. "Plausible responsiveness to scope in contingent valuation," Ecological Economics, Elsevier, vol. 128(C), pages 17-22.
    9. Richard Carson & Nicholas Flores & Norman Meade, 2001. "Contingent Valuation: Controversies and Evidence," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 19(2), pages 173-210, June.
    10. Julien Milanesi, 2011. "Une histoire de la méthode d'évaluation contingente," Post-Print hal-01531153, HAL.
    11. Sælensminde, Kjartan, 2003. "Embedding effects in valuation of non-market goods," Transport Policy, Elsevier, vol. 10(1), pages 59-72, January.
    12. Little, Joseph & Broadbent, Craig D. & Berrens, Robert P., 2012. "Meta-Analysis of the Probability of Disparity between Actual and Hypothetical Valuation Responses: Extension and Preliminary New Results," Western Economics Forum, Western Agricultural Economics Association, vol. 11(01), pages 1-12.
    13. Gelo, Dambala & Turpie, Jane, 2021. "Bayesian analysis of demand for urban green space: A contingent valuation of developing a new urban park," Land Use Policy, Elsevier, vol. 109(C).

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