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Realism Versus Statistical Efficiency: A Note on Contingent Valuation with Follow-up Queries |
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| Authors: | Ricardo Coelho de Faria Raul Yukiro Matsuhita Jorge Madeira Nogueira Benjamin Miranda Tabak | ||
| Institution: | (1) Department of Economics, Universidade Católica de Brasília, Brasília, DF, Brazil;(2) Department of Statistics, University of Brasília, Brasília, DF, Brazil;(3) Department of Economics, Center for Environment Economic Studies, University of Brasília, Brasília, DF, Brazil;(4) Banco Central do Brasil and Universidade Católica de Brasília, Brasília, DF, Brazil | ||
| Abstract: | This paper shows that we can improve the statistical efficiency of dichotomous choice contingent valuation surveys by asking
a second open question (anchored open-ended approach) instead of the traditional double-bounded approach. The former approach
is shown to be more efficient than conventional single and double-bounded approaches using a Monte Carlo experiment, even
when we allow for strategic behavior from respondents such as protest votes and yea-saying behavior.
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| Keywords: | Contingent valuation Statistical efficiency Single-bounded Double-bounded | ||
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