Reducing gain-loss asymmetry: A virtual reality choice experiment valuing land use change

被引:153
作者
Bateman, Ian J. [1 ]
Day, Brett H. [1 ]
Jones, Andrew P. [1 ,2 ]
Jude, Simon [2 ]
机构
[1] Univ E Anglia, CSERGE, Sch Environm Sci, Norwich NR4 7TJ, Norfolk, England
[2] Univ E Anglia, Tyndall Ctr Climate Change Res, Sch Environm Sci, Norwich NR4 7TJ, Norfolk, England
关键词
Gain/loss asymmetry; Loss aversion; Non-market valuation; Choice experiments; Virtual reality; Land use change; Coastal zones; WILLINGNESS-TO-PAY; CONTINGENT VALUATION; LOSS AVERSION; VISUALIZATION; UNCERTAINTY; DESIGN; COAST;
D O I
10.1016/j.jeem.2008.05.003
中图分类号
F [经济];
学科分类号
02 ;
摘要
In the majority of choice experiments (CEs) the attributes of non-market goods are conveyed to respondents as a table of numeric and/or categorical data. Recent research suggests that respondents may have difficulties evaluating data in this format. In the context of a CE eliciting preferences for changes in coastal land use, this study uses a split-sample experiment to compare standard presentations with virtual reality (VR) visualisations conveying objectively identical information. We find that compared to the standard presentation, preferences elicited in VR treatments are less variable and exhibit a significant reduction in asymmetry between willingness to pay (WTP) for gains and willingness to accept (WTA) for corresponding losses. We conjecture that the greater 'evaluability' of the VR presentation reduces respondent judgement error and moderates reliance on the loss-aversion heuristic. (C) 2009 Elsevier Inc. All rights reserved.
引用
收藏
页码:106 / 118
页数:13
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