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Starting Point Bias in Contingent Valuation Bidding Games

Author

Listed:
  • Boyle, Kevin J.
  • Bishop, Richard C.
  • Welsh, Michael P.
Abstract
A test for starting point bias in the iterative bidding format of contingent valuation studies is developed in this paper. The test is applied to the data from three contingent valuation studies and to the data from a simulated market study. Starting point bias was found to be a problem in all three contingent valuation studies. A starting point problem did not exist in the simulated market suggesting that starting point bias may be an artifact of hypothetical markets. The validity of using bidding games with fixed starting bids is evaluated.

Suggested Citation

  • Boyle, Kevin J. & Bishop, Richard C. & Welsh, Michael P., 1984. "Starting Point Bias in Contingent Valuation Bidding Games," 1984 Annual Meeting, August 5-8, Ithaca, New York 278973, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea84:278973
    DOI: 10.22004/ag.econ.278973
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    References listed on IDEAS

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    1. Randall, Alan & Brookshire, David S., 1978. "Public Policy, Public Goods, And Contingent Valuation Mechanisms," Staff Papers 292748, University of Kentucky, Department of Agricultural Economics.
    2. William D. Schulze & Ralph C. d'Arge & David S. Brookshire, 1981. "Valuing Environmental Commodities: Some Recent Experiments," Land Economics, University of Wisconsin Press, vol. 57(2), pages 151-172.
    3. Thayer, Mark A., 1981. "Contingent valuation techniques for assessing environmental impacts: Further evidence," Journal of Environmental Economics and Management, Elsevier, vol. 8(1), pages 27-44, March.
    4. Brookshire, David S, et al, 1982. "Valuing Public Goods: A Comparison of Survey and Hedonic Approaches," American Economic Review, American Economic Association, vol. 72(1), pages 165-177, March.
    5. Rowe, Robert D. & D'Arge, Ralph C. & Brookshire, David S., 1980. "An experiment on the economic value of visibility," Journal of Environmental Economics and Management, Elsevier, vol. 7(1), pages 1-19, March.
    6. Alan Randall & Orlen Grunewald & Sue Johnson & Richard Ausness & Angelos Pagoulatos, 1978. "Reclaiming Coal Surface Mines in Central Appalachia: A Case Study of the Benefits and Costs," Land Economics, University of Wisconsin Press, vol. 54(4), pages 472-489.
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