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Rheinberger, Christoph M.
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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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 Classification: | 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: | 04 Sep 2023 08:21 |
| OAI Identifier: | oai:tse-fr.eu:29292 |
| URI: | https://publications.ut-capitole.fr/id/eprint/16901 |
