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This paper demonstrates a set of necessary conditions that should generate unbiased, internally consistent estimates of willingness to pay (WTP) from a double referendum mechanism. These conditions are also sufficient for demand revelation in an experimental laboratory environment. However, the...
Persistent link: https://www.econbiz.de/10013076297
Surveys used to elicit values for environmental public goods often employ variants of the referendum mechanism due to the cognitive simplicity and familiarity of respondents with the mechanism. One variant, the double referendum mechanism, requires respondents to state twice how they would vote...
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Hypothetical contingent valuation surveys used to elicit values for environmental and other public goods often employ variants of the referendum mechanism due to the cognitive simplicity and familiarity of respondents with this voting format. One variant, the double referendum mechanism,...
Persistent link: https://www.econbiz.de/10013076300
This paper demonstrates the potential for induced preference experiments to test previously unverified explanations of observed behavior in contingent valuation surveys. The NOAA Panel on Contingent Valuation called for experimental evidence on potential biases in the double referendum format....
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