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How certain are visitors of their economic values of river recreation: An evaluation using repeated questioning and revealed preference
Author(s) -
Loomis John B.,
GonzálezCabán Armando
Publication year - 1997
Publication title -
water resources research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.863
H-Index - 217
eISSN - 1944-7973
pISSN - 0043-1397
DOI - 10.1029/97wr00567
Subject(s) - contingent valuation , willingness to pay , respondent , visitor pattern , recreation , valuation (finance) , preference , robustness (evolution) , econometrics , statistics , revealed preference , geography , economics , mathematics , computer science , microeconomics , ecology , political science , programming language , biochemistry , chemistry , finance , gene , law , biology
We test the robustness of visitor dichotomous choice willingness to pay (WTP) for maintaining instream flow by challenging respondent's affirmative answers. This is followed by rephrasing the per trip WTP question into an annual dichotomous choice WTP question and reasking the question. About 5% of visitors revised their “yes” answer to “no.” Estimated WTP changed from $12.81 per trip to $11.96 per trip. Using the method of convolutions, this is an insignificant difference. To further evaluate the robustness of contingent valuation method estimated WTP, these values are compared to WTP derived from the revealed preference travel cost model of the same visitors. No statistical difference was found.