Temporal reliability of estimates from contingent valuation

Richard T. Carson, W. Michael Hanemann, Raymond J. Kopp, Jon A. Krosnick, Robert C. Mitchell, Stanley Presser, Paul A. Ruud, V. Kerry Smith, Michael Conaway, Kerry Martin

Research output: Contribution to journalArticlepeer-review

89 Scopus citations

Abstract

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 panel recommended that "time dependent measurement noise should be reduced by averaging across independently drawn samples taken at different points in time." In this paper we examine the temporal reliability of CV estimates. Our findings, using a CV instrument designed to measure willingness to pay for a program to protect Prince William Sound, Alaska, from future oil spills, exhibited no significant sensitivity to the timing of the interviews.

Original languageEnglish (US)
Pages (from-to)151-163
Number of pages13
JournalLand Economics
Volume73
Issue number2
DOIs
StatePublished - May 1997
Externally publishedYes

ASJC Scopus subject areas

  • Environmental Science (miscellaneous)
  • Economics and Econometrics

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