Journal
RESOURCE AND ENERGY ECONOMICS
Volume 29, Issue 3, Pages 183-194Publisher
ELSEVIER
DOI: 10.1016/j.reseneeco.2007.05.003
Keywords
starting point bias; preference uncertainty; contingent valuation
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In this article, we develop a dichotomous choice model with follow-up questions that describes the willingness to pay being uncertain in an interval. The initial response is subject to starting point bias. Our model provides an alternative interpretation of the starting point bias in the dichotomous choice valuation surveys. Using the Exxon Valdez survey, we show that, when uncertain, individuals tend to answer yes. (c) 2007 Elsevier B.V. All rights reserved.
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