Necessary conditions for demand revelation in double referenda

Necessary conditions for demand revelation in double referenda

This paper demonstrates a set of necessary conditions that should generate unbiased, internally consistent estimates of willingness to pay (WTP) from a double referendum mechanism. These conditions are also sufficient for demand revelation in an experimental laboratory environment. However, the cont...

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Veröffentlicht in:Journal of environmental economics and management 2009-03, Vol.57 (2), p.219-225
Hauptverfasser: Carson, Katherine Silz, Chilton, Susan M., Hutchinson, W. George
Format: Artikel
Sprache:eng
Schlagworte:
Bias
Consequential double referendum
Contingent valuation
Contingent valuation Demand revelation Consequential double referendum
Demand
Demand analysis
Demand revelation
Estimating techniques
Estimation
Estimation bias
Experiments
Referendums
Studies
Surveys
Willingness to pay
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Zusammenfassung:This paper demonstrates a set of necessary conditions that should generate unbiased, internally consistent estimates of willingness to pay (WTP) from a double referendum mechanism. These conditions are also sufficient for demand revelation in an experimental laboratory environment. However, the control over the mechanism achieved in the lab may not be transferrable to the field and WTP estimates derived from field surveys may remain biased.
ISSN:0095-0696
1096-0449
DOI:10.1016/j.jeem.2008.07.005