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Hypothetical bias: a new meta-analysis

In: Contingent Valuation of Environmental Goods

Author

Listed:
  • Harry Foster
  • James Burrows

Abstract

Contingent valuation is a survey-based procedure that attempts to estimate how much households are willing to pay for specific programs that improve the environment or prevent environmental degradation. For decades, the method has been the center of debate regarding its reliability: does it really measure the value that people place on environmental changes? Bringing together leading voices in the field, this timely book tells a unified story about the interrelated features of contingent valuation and how those features affect its reliability. Through empirical analysis and review of past studies, the authors identify important deficiencies in the procedure, raising questions about the technique’s continued use.

Suggested Citation

  • Harry Foster & James Burrows, 2017. "Hypothetical bias: a new meta-analysis," Chapters, in: Daniel McFadden & Kenneth Train (ed.), Contingent Valuation of Environmental Goods, chapter 10, pages 270-291, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:17527_10
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    Citations

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    Cited by:

    1. Perni, Ángel & Barreiro-Hurlé, Jesús & Martínez-Paz, José Miguel, 2021. "Contingent valuation estimates for environmental goods: Validity and reliability," Ecological Economics, Elsevier, vol. 189(C).
    2. Brzozowicz Magdalena, 2018. "Hypothetical bias and framing effect in the valuation of private consumer goods," Central European Economic Journal, Sciendo, vol. 5(52), pages 260-269, January.
    3. Bi, Hui & Ye, Zhirui & Hu, Liyang & Zhu, He, 2021. "Why they don't choose bus service? Understanding special online car-hailing behavior near bus stops," Transport Policy, Elsevier, vol. 114(C), pages 280-297.
    4. Nilgen, Marco & Rode, Julian & Vorlaufer, Tobias & Vollan, Björn, 2024. "Measuring non-use values to proxy conservation preferences and policy impacts," Ecosystem Services, Elsevier, vol. 67(C).
    5. Mäntymaa, Erkki & Pouta, Eija & Hiedanpää, Juha, 2021. "Forest owners' interest in participation and their compensation claims in voluntary landscape value trading: The case of wind power parks in Finland," Forest Policy and Economics, Elsevier, vol. 124(C).
    6. Motz, Alessandra, 2021. "Security of supply and the energy transition: The households' perspective investigated through a discrete choice model with latent classes," Energy Economics, Elsevier, vol. 97(C).
    7. Motz, Alessandra, 2021. "Consumer acceptance of the energy transition in Switzerland: The role of attitudes explained through a hybrid discrete choice model," Energy Policy, Elsevier, vol. 151(C).
    8. Koo, A Mi & Kim, Ju-Hee & Yoo, Seung-Hoon, 2022. "Household willingness to pay for a smart water metering and monitoring system: The case of South Korea," Utilities Policy, Elsevier, vol. 79(C).

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    Keywords

    Economics and Finance; Environment;

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