Do contingent valuation estimates pass a 'scope' test? A meta-analysis

V. Kerry Smith, Laura L. Osborne

Research output: Contribution to journalArticle

158 Citations (Scopus)

Abstract

This paper considers the scope test proposed to judge the internal consistency of contingent valuation estimates. The test is shown to be quite sensitive to the maintained hypotheses required to derive fairly precise expectations for the properties of WTP functions, and, therefore, a different approach may be needed in gauging the reliability of CV. This paper describes an approach that relies on a weight-of-the-evidence criterion and uses meta- analysis to develop a systematic appraisal of what the economic values of changes in amenity resources are. The approach is illustrated for the case of estimating people's willingness to pay for improving (or maintaining) visibility at the national parks.

Original languageEnglish (US)
Pages (from-to)287-301
Number of pages15
JournalJournal of Environmental Economics and Management
Volume31
Issue number3
DOIs
StatePublished - Nov 1996
Externally publishedYes

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contingent valuation
meta-analysis
willingness to pay
amenity
visibility
national park
resource
economics
test
Scope test
Meta-analysis
Contingent valuation
Willingness-to-pay

ASJC Scopus subject areas

  • Economics and Econometrics
  • Management, Monitoring, Policy and Law

Cite this

Do contingent valuation estimates pass a 'scope' test? A meta-analysis. / Smith, V. Kerry; Osborne, Laura L.

In: Journal of Environmental Economics and Management, Vol. 31, No. 3, 11.1996, p. 287-301.

Research output: Contribution to journalArticle

Smith, V. Kerry ; Osborne, Laura L. / Do contingent valuation estimates pass a 'scope' test? A meta-analysis. In: Journal of Environmental Economics and Management. 1996 ; Vol. 31, No. 3. pp. 287-301.
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