Discrete Choice Survey Experiments: A Comparison Using Flexible Models

Juha Siikamäki and David F. Layton

RFF Working Paper Series from Resources for the Future

Abstract: This study investigates the convergent validity of discrete choice contingent valuation (CV) and contingent rating/ranking (CR) methods using flexible econometric methods. Our results suggest that CV and CR can produce consistent data (achieve convergent validity) when respondent’s preferred choices and the same changes in environmental quality are considered. We also find that CR models that go beyond modeling the preferred choice and include additional ranks cannot be pooled with the CV models. Accounting for preference heterogeneity via random coefficient models and their flexible structure does not make rejection of the hypothesis of convergent validity less likely, but instead rejects the hypothesis to about the same degree or perhaps more frequently than fixed parameter models commonly used in the literature.

Keywords: valuation; stated preferences; data pooling; random coefficients; Rayleigh; habitat conservation (search for similar items in EconPapers)
Date: 2006-04-26
New Economics Papers: this item is included in nep-dcm and nep-ecm
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