A Pilot Test of a New Stated Preference Valuation Method: Continuous Attribute-Based Stated Choice
نویسندگان
چکیده
A new stated preference technique is developed and tested. In an interactive computerized survey, respondents move continuous sliders to choose levels of environmental attributes. The total cost of the combination of attributes chosen is calculated according to a preprogrammed cost function, and continuously updated and displayed. Each registered choice reveals the respondent’s marginal willingness to pay for each of the attributes. The method is tested in a museum installation on global climate change. Two construct validity tests were conducted. Responses are sensitive to the shape of the cost function in ways that are consistent with expectations based on economic theory. However, responses showed range effects that indicate potential cognitive biases. Implied marginal willingness to pay values were similar to those estimated using a more traditional paired comparisions stated choice
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