You are here: Home
/ Publication Information
Title: A comparison of cheap talk and alternative certainty calibration techniques in contingent valuation
Author: Samnaliev, Mihail; Stevens, Thomas; More, Thomas
Source: Working Paper No. 2003-11. University of Massachusetts Amherst, Department of Resource Economics: Amherst, MA.
Publication Series: Journal/Magazine Article (JRNL)
Description: A field test of cheap talk and two types of certainty calibration in contingent valuation of public lands indicated that cheap talk does not reduce WTP estimates. Use of a ten point certainty calibration scale reduces WTP estimates by about half. However, adjusting for uncertainty using a 'Not Sure' option does not reduce WTP estimates but increases the variance in responses. There may be a conceptual difference between these two ways of accounting for respondents' uncertainty, which may suggest why they provide different WTP value estimates and variances.
Keywords: CVM, Hypothetical bias, Cheap talk, Certainty Calibration
- We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
- This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.
- This publication may be available in hard copy. Check the Northern Research Station web site to request a printed copy of this publication.
- Our on-line publications are scanned and captured using Adobe Acrobat. During the capture process some typographical errors may occur. Please contact Sharon Hobrla, email@example.com if you notice any errors which make this publication unusable.
XML: View XML
Samnaliev, Mihail; Stevens, Thomas; More, Thomas 2003. A comparison of cheap talk and alternative certainty calibration techniques in contingent valuation. Working Paper No. 2003-11. University of Massachusetts Amherst, Department of Resource Economics: Amherst, MA.
Get the latest version of the Adobe Acrobat reader or Acrobat Reader for Windows with Search and Accessibility