TY - JOUR
T1 - A pilot test of a new stated preference valuation method
T2 - Continuous attribute-based stated choice
AU - Ready, Richard
AU - Fisher, Ann
AU - Guignet, Dennis
AU - Stedman, Richard
AU - Wang, Junchao
N1 - Funding Information:
We are grateful to Erika Shugart, Peter Schulz and Patrice Legro of the Marian Koshland Museum of Science for their cooperation, Shayne Gelo and Joan Severson of Digital Artefacts who wrote the interactive software, and Tom Bowman of Bowman Design Group who designed the physical installation. Financial support was provided by the Penn State Institutes of the Environment.
Copyright:
Copyright 2008 Elsevier B.V., All rights reserved.
PY - 2006/9/20
Y1 - 2006/9/20
N2 - A new stated preference nonmarket valuation technique is developed. In an interactive computerized survey, respondents move continuous sliders to vary levels of environmental attributes. The total cost of the combination of attributes is calculated according to a preprogrammed cost function, continuously updated and displayed as respondents move the sliders. Each registered choice reveals the respondent's marginal willingness to pay for each of the attributes. The method is tested in a museum exhibit on global climate change. Two construct validity tests were conducted. Responses are sensitive to the shape of the cost function in ways that are consistent with expectations based on economic theory. Implied marginal willingness to pay values were similar to those estimated using a more traditional paired comparisons stated choice format. However, responses showed range effects that indicate potential cognitive biases.
AB - A new stated preference nonmarket valuation technique is developed. In an interactive computerized survey, respondents move continuous sliders to vary levels of environmental attributes. The total cost of the combination of attributes is calculated according to a preprogrammed cost function, continuously updated and displayed as respondents move the sliders. Each registered choice reveals the respondent's marginal willingness to pay for each of the attributes. The method is tested in a museum exhibit on global climate change. Two construct validity tests were conducted. Responses are sensitive to the shape of the cost function in ways that are consistent with expectations based on economic theory. Implied marginal willingness to pay values were similar to those estimated using a more traditional paired comparisons stated choice format. However, responses showed range effects that indicate potential cognitive biases.
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U2 - 10.1016/j.ecolecon.2005.11.004
DO - 10.1016/j.ecolecon.2005.11.004
M3 - Article
AN - SCOPUS:33748099879
SN - 0921-8009
VL - 59
SP - 247
EP - 255
JO - Ecological Economics
JF - Ecological Economics
IS - 3
ER -
