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    Author(s): Mihail Samnaliev; Thomas Stevens; Thomas More
    Date: 2003
    Source: Working Paper No. 2003-11. University of Massachusetts Amherst, Department of Resource Economics: Amherst, MA.
    Publication Series: Scientific Journal (JRNL)
    Station: Northeastern Research Station
    PDF: View PDF  (1.34 MB)

    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.

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    Citation

    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.

    Keywords

    CVM, Hypothetical bias, Cheap talk, Certainty Calibration

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