Journal
JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT
Volume 53, Issue 1, Pages 122-139Publisher
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.jeem.2006.04.003
Keywords
stated preferences; nonmarket valuation; data pooling; discrete choice methods; random coefficients; rayleigh; habitat conservation
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This study investigates the convergent validity of discrete choice contingent valuation (CV) and contingent rating/ranking (CR) methods using flexible econometric methods. Our results suggest that CV and CR can produce consistent data (achieve convergent validity) when respondent's preferred choices and the same changes in environmental quality are considered. We also find that CR models that go beyond modeling the preferred choice and include additional ranks cannot be pooled with the CV models. Accounting for preference heterogeneity via random coefficient models and their flexible structure does not make rejection of the hypothesis of convergent validity less likely, but instead rejects the hypothesis to about the same degree or perhaps more frequently than fixed parameter models commonly used in the literature. (c) 2006 Elsevier Inc. All rights reserved.
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