This paper makes an attempt to introduce preference uncertainty into discrete choice models used in contingent valuation experiments. We develop an econometric model which may characterize the degree of the uncertainty and provide an empirical illustration of the suggested model.

The past few years have seen a highly charged debate about whether contingent valuation (CV) surveys can provide valid economic measures of people's values for environmental resources. In an effort to appraise the validity of CV measures of economic value, a distinguished panel of social...

In 1992 the National Oceanic and Atmospheric Administration (NOAA) convened a panel of prominent social scientists to assess the reliability of natural resource damage estimates derived from contingent valuation (CV). The product of the Panel's deliberations was a report that laid out a set of...

In 1992 the National Oceanic and Atmospheric Administration (NOAA) convened a panel of prominent social scientists to assess the reliability of natural resource damage estimates derived from contingent valuation (CV). The product of the panel's deliberations was a report that laid out a set of...

Value estimates for environmental goods can be obtained by either estimating preference parameters as revealed through behavior related to some aspect of the amenity or using stated information concerning preferences for the good. In the environmental economics literature the stated preference...