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Cognitive Decision Processes, Information, and Contingent Valuation

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  • Bergstrom, John C.
  • Stoll, John R.

Abstract

The effect of informational structure on valuations was tested in a laboratory controlled, contingent valuation experiment. Informational structure significantly influenced bids in a desirable and expected manner. Thus, knowledge of the effect of information structure on bidding behavior may be critical for design of sound contingent valuation markets.

Suggested Citation

  • Bergstrom, John C. & Stoll, John R., 1985. "Cognitive Decision Processes, Information, and Contingent Valuation," 1985 Annual Meeting, August 4-7, Ames, Iowa 278589, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea85:278589
    DOI: 10.22004/ag.econ.278589
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    References listed on IDEAS

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    1. Bergstrom, John C. & Dillman, B. L. & Stoll, John R., 1985. "Public Environmental Amenity Benefits of Private Land: The Case of Prime Agricultural Land," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 17(1), pages 139-149, July.
    2. Richard G. Walsh & John B. Loomis & Richard A. Gillman, 1984. "Valuing Option, Existence, and Bequest Demands for Wilderness," Land Economics, University of Wisconsin Press, vol. 60(1), pages 14-29.
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    4. Douglas A. Greenley & Richard G. Walsh & Robert A. Young, 1981. "Option Value: Empirical Evidence from a Case Study of Recreation and Water Quality," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 96(4), pages 657-673.
    5. Christine Seller & John R. Stoll & Jean-Paul Chavas, 1985. "Validation of Empirical Measures of Welfare Change: A Comparison of Nonmarket Techniques," Land Economics, University of Wisconsin Press, vol. 62(2), pages 156-175.
    6. Randall, Alan & Stoll, John R, 1980. "Consumer's Surplus in Commodity Space," American Economic Review, American Economic Association, vol. 70(3), pages 449-455, June.
    7. 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.
    8. David S. Brookshire & Alan Randall & John R. Stoll, 1980. "Valuing Increments and Decrements in Natural Resource Service Flows," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(3), pages 478-488.
    9. Bishop, Richard C. & Heberlein, Thomas A., 1979. "Measuring Values Of Extramarket Goods: Are Indirect Measures Biased?," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 277818, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Brookshire, David S. & Ives, Berry C. & Schulze, William D., 1976. "The valuation of aesthetic preferences," Journal of Environmental Economics and Management, Elsevier, vol. 3(4), pages 325-346, December.
    11. Freeman, Myrick A.III, 1979. "Approaches To Measuring Public Goods Demands," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 277832, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    12. Randall, Alan & Ives, Berry & Eastman, Clyde, 1974. "Bidding games for valuation of aesthetic environmental improvements," Journal of Environmental Economics and Management, Elsevier, vol. 1(2), pages 132-149, August.
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    Cited by:

    1. Bergstrom, John C. & Stoll, John R., 1986. "Structure, Conduct, And Performance In Contingent Markets," 1986 Annual Meeting, July 27-30, Reno, Nevada 278158, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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