Construct validity is concerned with the consistency of empirical measures with theoretical relationships. This paper reviews and extends the theoretical relationship between averting costs and willingness to pay. Measures of these two theoretical constructs with empirical averting costs savings...

Social desirability (SD) represents the problem of subjects responding with social norms rather than individual values. This paper briefly surveys the SD literature and considers its relevance for contingent valuation (CV) studies. In an empirical study, undergraduate students were administered...

Recently, several problems with elicited utility functions have emerged. This paper concerns a fundamental problem in risk preference classification with elicited data. For the sample in this research, different functional forms resulted in reversals in preference classifications. This paper...