It’s the Cost Credibility, Stupid! A Comment on “Consequentiality: A Theoretical and Experimental Exploration of a Single Binary Choice”

Rheinberger, Christoph and Schläpfer, Felix (2015) It’s the Cost Credibility, Stupid! A Comment on “Consequentiality: A Theoretical and Experimental Exploration of a Single Binary Choice”. TSE Working Paper, n. 15-573

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Official URL: http://tse-fr.eu/pub/29292

Abstract

This comment takes up the discussion about the incentive compatibility of contingent valuation surveys revived by a recent paper of Carson, Groves and List (2014) in this journal. We feel that the conclusions the authors draw from their theoretical and experimental work cannot be generalized to contingent valuation (CV) surveys. We single out the lack of cost credibility as the principal obstacle to incentive compatibility and propose some amendments to the survey protocol that foster the cost credibility of random-bid CV studies.

Item Type: Monograph (Working Paper)
Language: English
Date: May 2015
Uncontrolled Keywords: Contingent valuation, cost credibility, incentive compatibility
JEL codes: D81 - Criteria for Decision-Making under Risk and Uncertainty
D82 - Asymmetric and Private Information
Q51 - Valuation of Environmental Effects
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 21 Sep 2015 13:08
Last Modified: 07 Mar 2018 13:23
OAI ID: oai:tse-fr.eu:29292
URI: http://publications.ut-capitole.fr/id/eprint/16901

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