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Part‐Whole Bias in Contingent Valuation: Will Scope Effects Be Detected with Inexpensive Survey Methods?
Author(s) -
Whitehead John C.,
Haab Timothy C.,
Huang JuChin
Publication year - 1998
Publication title -
southern economic journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.762
H-Index - 58
eISSN - 2325-8012
pISSN - 0038-4038
DOI - 10.1002/j.2325-8012.1998.tb00135.x
Subject(s) - scope (computer science) , contingent valuation , valuation (finance) , willingness to pay , telephone survey , survey data collection , actuarial science , economics , business , computer science , marketing , microeconomics , statistics , accounting , programming language , mathematics
The purpose of this paper is to test for scope effects with the contingent valuation method. We use data from a telephone survey focusing on water quality improvements in the Albemarle and Pamlico Sounds in North Carolina. We find that the willingness to pay estimates are sensitive to the scope of the policy. These results suggest that the use of inexpensive survey methods may not be the cause of the failure to detect scope effects in some recent contingent valuation studies.