Validity of WTP measures under preference uncertainty

Research English OPEN
Kniebes, Carola; Rehdanz, Katrin; Schmidt, Ulrich;
  • Publisher: Kiel Institute for the World Economy (IfW) Kiel
  • Subject: contingent valuation | willingness to pay | valuation uncertainty | willingness-to-pay range | open-ended elicitation | reliability | validity | preference uncertainty
    • ddc: ddc:330

This paper establishes a new method for eliciting Willingness to Pay (WTP) in contingent valuation (CV) studies with an open-ended elicitation format: the Range-WTP method. In contrast to the traditional approach for eliciting Point-WTP, Range-WTP explicitly allows for ... View more
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