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Some notes on trichotomous choice discrete valuation

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  • Rauli Svento

Abstract

For some respondents, the bid offered by the dichotomous choice format used in the discrete choice technique can in fact be the true optimum. In this case the correct answer is neither ‘yes’ or ‘no’, but ‘indifferent’. We shall show results from a trichotomous choice format and analyse whether it produces welfare measures with narrower confidence intervals than the dichotomous technique. Another well known problem in contingent valuation (CV) studies is that the volume of the good to be purchased from hypothetical markets is not, in many cases, defined in precise terms. We show how the trichotomous choice technique can be used to test for possible vagueness in the volume of the project to be valued. Copyright Kluwer Academic Publishers 1993

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  • Rauli Svento, 1993. "Some notes on trichotomous choice discrete valuation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 3(6), pages 533-543, December.
    • Handle: RePEc:kap:enreec:v:3:y:1993:i:6:p:533-543
    DOI: 10.1007/BF00364058
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    References listed on IDEAS

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    1. W. Michael Hanemann, 1984. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 332-341.
    2. Per-Olov Johansson & Bengt Kriström & Karl Göran Mäler, 1989. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Response Data: Comment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(4), pages 1054-1056.
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    1. Rauli Svento, 1999. "On the Asymmetry of the Vagueness Band in Willingness to Pay Answers," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 14(1), pages 151-163, July.
    2. Nick Hanley & Bengt Kristrom, "undated". "What’s it worth? Exploring value uncertainty using interval questions in Contingent Valuation," Working Papers 2002_10, Business School - Economics, University of Glasgow.

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