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A Contingent Valuation Test for Measuring the Construct Validity of Willingness-to-Pay Estimates Derived from Choice Experiments

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Listed:
  • Romain Crastes dit Sourd
  • Olivier Beaumais
  • Pierre-Alexandre Mahieu
  • Pablo Martínez-Camblor
  • Riccardo Scarpa

Abstract

We introduce a protocol for measuring the construct validity of competing willingness-to-pay (WTP) distributions derived from mixed logit models. The protocol is based on a two-round survey. Round 1 consists in a standard discrete choice experiment (DCE) sample survey, at the end of which competing models are estimated. Round 2 introduces additional respondents who, in addition to taking part in the DCE, are asked to identify the money value interval that better reflects their preferences using a set of values drawn from the estimated range of WTPs obtained from competing models estimated on the previous sample.

Suggested Citation

  • Romain Crastes dit Sourd & Olivier Beaumais & Pierre-Alexandre Mahieu & Pablo Martínez-Camblor & Riccardo Scarpa, 2021. "A Contingent Valuation Test for Measuring the Construct Validity of Willingness-to-Pay Estimates Derived from Choice Experiments," Land Economics, University of Wisconsin Press, vol. 97(3), pages 608-625.
    • Handle: RePEc:uwp:landec:v:97:y:2021:i:3:p:608-625
    Note: DOI: 10.3368/wple.97.3.102219-0150R1
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    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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