Welfare Evaluation in Contingent Valuation under Alternative Approaches for Incorporating Respondent Uncertainty

This study attempts to investigate the preference uncertainty of respondents involved in stating their Willingness to Pay (WTP). For the Contingent Valuation Method (CVM) survey, we employed two approaches using two split samples. The respondents of one sample were given the opportunity to express intensity of preference through Multi-bounded Discrete Choice (MBDC) WTP questions, while those in the other sample were given Dichotomous Choice (DC) WTP questions. By incorporating the two elicited degrees of preference uncertainty into examining the WTP responses, we compared the . * Welfare Evaluation in Contingent Valuation under Alternative Approaches for Incorporating Respondent Uncertainty Chung-Sil Kim . Sang-Ho Lee 1) (Department of Agricultural Economics, Kyungpook National University) 2) (Department of Agricultural Economics, Sunchon National University) :2009 4 20 :2009 8 31