Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/80293
Authors: 
Bateman, Ian J.
Burgess, Diane
Hutchinson, W. George
Matthews, David I.
Year of Publication: 
2006
Series/Report no.: 
CSERGE Working Paper EDM 06-18
Abstract: 
We extend the contingent valuation (CV) method to test three differing conceptions of individuals' preferences as either: (i) a-priori well-formed or readily divined and revealed through a single dichotomous choice question (as per the NOAA CV guidelines; Arrow et al., 1993]; (ii) learned or 'discovered' through a process of repetition and experience [Plott, 1996; List, 2003]; (iii) internally coherent but strongly influenced by some initial arbitrary anchor [Ariely et al., 2003]. Findings reject both the first and last of these conceptions in favour of a model in which preferences converge towards standard expectations through a process of repetition and learning.
Subjects: 
coherent arbitrariness
Contingent valuation
discovered preferences
learning
Preference formation
JEL: 
D6
D12
Q51
C51
Q18
Document Type: 
Working Paper

Files in This Item:
File
Size
287.76 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.