A COMPARISON OF CHEAP TALK AND ALTERNATIVE CERTAINTY CALIBRATION TECHNIQUES IN CONTINGENT VALUATION

A field test of cheap talk and two types of certainty calibration in contingent valuation of public lands indicated that cheap talk does not reduce WTP estimates. Use of a ten point certainty calibration scale reduces WTP estimates by about half. However, adjusting for uncertainty using a 'Not Sure' option does not reduce WTP estimates but increases the variance in responses. There may be a conceptual difference between these two ways of accounting for respondents' uncertainty, which may suggest why they provide different WTP value estimates and variances.


Issue Date:
2003
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/14517
Total Pages:
30
Series Statement:
Working Paper 2003-11




 Record created 2017-04-01, last modified 2017-08-23

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