Learning design contingent valuation (LDCV): NOAA guidelines, preference learning and coherent arbitrariness

被引:136
作者
Bateman, Ian J. [1 ]
Burgess, Diane [2 ]
Hutchinson, W. George [3 ]
Matthews, David I. [2 ]
机构
[1] Univ E Anglia, CSERGE, Norwich NR4 7TJ, Norfolk, England
[2] AFBI, Belfast BT9 5PX, Antrim, North Ireland
[3] Queens Univ Belfast, Gibson Inst Land Food & Environm, Belfast BT7 1NN, Antrim, North Ireland
基金
英国经济与社会研究理事会;
关键词
preferences; non-market goods; contingent valuation; learning; coherent arbitrariness; NOAA guidelines; animal welfare; willingness to pay (WTP); similarity;
D O I
10.1016/j.jeem.2007.08.003
中图分类号
F [经济];
学科分类号
02 ;
摘要
We extend the contingent valuation (CV) method to test three differing conceptions of individuals' preferences as either (i) a-priori well-formed or readily divined and revealed through a single dichotomous choice question (as per the NOAA CV guidelines [K. Arrow, R. Solow, P.R. Portney, E.E. Learner, R. Radner, H. Schuman, Report of the NOAA panel on contingent valuation, Fed. Reg. 58 (1993) 4601-4614]); (ii) learned or 'discovered' through a process of repetition and experience [J.A. List, Does market experience eliminate market anomalies? Q. J. Econ. (2003) 41-72; C.R. Plott, Rational individual behaviour in markets and social choice processes: the discovered preference hypothesis, in: K. Arrow, E. Colombatto, M. Perleman, C. Schmidt (Eds.), Rational Foundations of Economic Behaviour, Macmillan, London, St. Martin's, New York, 1996, pp. 225-250]; (iii) internally coherent but strongly influenced by some initial arbitrary anchor [D. Ariely, G. Loewenstein, D. Prelec, 'Coherent arbitrariness': stable demand curves without stable preferences, Q. J. Econ. 118(l) (2003) 73-105]. Findings reject both the first and last of these conceptions in favour of a model in which preferences converge towards standard expectations through a process of repetition and learning. In doing so, we show that such a 'learning design CV method overturns the 'stylised facts' of bias and anchoring within the double bound dichotomous choice elicitation format. (C) 2007 Elsevier Inc. All rights reserved.
引用
收藏
页码:127 / 141
页数:15
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