A criterion validity test of the contingent valuation method: comparing hypothetical and actual voting behavior for a public referendum

2003 ◽  
Vol 45 (3) ◽  
pp. 631-649 ◽  
Author(s):  
Christian A Vossler ◽  
Joe Kerkvliet
Keyword(s):  
Contingent Valuation ◽  
Voting Behavior ◽  
Contingent Valuation Method ◽  
Criterion Validity ◽  
Validity Test ◽  
Valuation Method

A Spatial Probit Modeling Approach to Account for Spatial Spillover Effects in Dichotomous Choice Contingent Valuation Surveys

2013 ◽  
Vol 45 (1) ◽  
pp. 53-63 ◽  
Author(s):  
John B. Loomis ◽  
Julie M. Mueller
Keyword(s):  
Contingent Valuation ◽  
Voting Behavior ◽  
Contingent Valuation Method ◽  
Probit Model ◽  
Spillover Effects ◽  
Dichotomous Choice ◽  
Spatially Correlated ◽  
Valuation Method ◽  
Spatial Probit ◽  
Unbiased Estimates

We present a demonstration of a Bayesian spatial probit model for a dichotomous choice contingent valuation method willingness-to-pay (WTP) questions. If voting behavior is spatially correlated, spatial interdependence exists within the data, and standard probit models will result in biased and inconsistent estimated nonbid coefficients. Adjusting sample WTP to population WTP requires unbiased estimates of the nonbid coefficients, and we find a $17 difference in population WTP per household in a standard vs. spatial model. We conclude that failure to correctly model spatial dependence can lead to differences in WTP estimates with potentially important policy ramifications.

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