Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/244444 
Autor:innen: 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
Working Paper No. 1/2009
Verlag: 
Örebro University School of Business, Örebro
Zusammenfassung: 
Hypothetical bias is a serious problem of stated preference techniques. The certainty approach calibrates answers by assessing different weights to remedy respondents' valuation. However, very little research has been done to find a link between economic theory and empirical treatment of uncertainty through certainty calibration. We use a combination of dichotomous choice (DC) followed by an open-ended (OE) question to examine the relation between the degree of confidence and the distance between the DC bid and the OE answer. The results show that the OE bid difference is significantly correlated to the certainty level in one of our two contingent valuation (CV) surveys, with the probability of stating the highest confidence value increasing between 5-19 percent per SEK 1000 (~$170/€106) that the answer to the OE question and the bid differ. The second CV survey shows a significant relation for the no-responders.
Schlagwörter: 
Contingent valuation
Hypothetical bias
Calibration
Certainty approach
Value of a statistical life
Traffic safety
Cardiac arrest
JEL: 
H43
I18
R41
Dokumentart: 
Working Paper

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