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dc.contributor.authorKerr, Geoffrey N.en
dc.date.accessioned2008-06-12T04:23:32Z
dc.date.issued2000-05en
dc.identifier.issn1174-5045en
dc.identifier.urihttps://hdl.handle.net/10182/532
dc.description.abstractThe dichotomous choice approach to contingent valuation is extremely popular, but obtains very little information from each respondent and is therefore inefficient. Multiple-bounded dichotomous choice approaches are more efficient in theory, but theoretical gains are not always obtained in practice. The multiple-bounded dichotomous choice approach also yields internally inconsistent responses. Payment cards are another approach to improve contingent valuation efficiency. At the extremes, dichotomous choice is a two cell payment card, while open-ended CVM has an infinite number of cells. This paper reports a split sample test of the impacts on benefit estimates and efficiency arising from differences in the numbers of divisions on the payment card. Don't know responses were explicitly included to test for changes in uncertainty because of differences in cell numbers. Prior expectations were for increased cell numbers to improve efficiency, but that efficiency gains would eventually be offset by increased frequency of don't know responses and response variance as cell numbers increased. Contrary to prior expectations, parameter estimates, standard errors and benefit measures were largely invariant to cell numbers.en
dc.language.isoenen
dc.publisherLincoln University. Commerce Divisionen
dc.relationThe original publication is available from - Lincoln University. Commerce Divisionen
dc.subjectstrategic behaviouren
dc.subjectpayment cardsen
dc.subjectwillingness to payen
dc.subjectcustomer value measurementen
dc.subjectcontingent valuationen
dc.subjecteconomic modelen
dc.titleContingent valuation payment cards : how many cells?en
dc.typeDiscussion Paper
dc.subject.marsdenFields of Research::340000 Economics::340200 Applied Economics::340203 Finance economicsen
dc.subject.marsdenFields of Research::340000 Economics::340400 Econometrics::340401 Economic models and forecastingen
lu.contributor.unitLincoln Universityen
lu.contributor.unitFaculty of Environment, Society and Designen
lu.contributor.unitDepartment of Environmental Managementen
lu.contributor.uniten
lu.contributor.uniten
pubs.organisational-group/LU
pubs.organisational-group/LU/Faculty of Environment, Society and Design
pubs.organisational-group/LU/Faculty of Environment, Society and Design/DEM
pubs.organisational-group/LU/Research Management Office
pubs.organisational-group/LU/Research Management Office/2018 PBRF Staff group
pubs.publication-statusPublisheden
lu.identifier.orcid0000-0002-5806-1944


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