Valuing Non-Marketed Goods And Services Using A List Field Experiment
Author(s)
- John A. List
Full TextAbstract
Contingent valuation is a widely used method for estimating the value of nonmarket commodities. Yet, a persistent issue is whether responses to Contingent Valuation Method (CVM) questions accurately reflect true values. Recent studies indicate that hypothetical bias is a significant factor that creates a gap between intentions and actions. I use a novel approach within non-market valuation - a List Experiment in the field - to test whether it can attenuate the hypothetical bias observed within CVM surveys. Using data from 400 subjects in a field experiment, I find initial promising results.