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Survey Response‐Related Biases in Contingent Valuation: Concepts, Remedies, and Empirical Application to Valuing Aquatic Plant Management
Author(s) -
Messonnier Mark L.,
Bergstrom John C.,
Cornwell Christopher M.,
Teasley R. Jeff,
Cordell H. Ken
Publication year - 2000
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.1111/0002-9092.00037
Subject(s) - contingent valuation , selection bias , valuation (finance) , econometrics , economics , sample (material) , welfare , survey data collection , non response bias , actuarial science , willingness to pay , statistics , microeconomics , accounting , mathematics , market economy , chemistry , chromatography
Sample nonresponse and selection biases that may occur in survey research such as contingent valuation applications are discussed and tested. Correction mechanisms for these types of biases are demonstrated. Results indicate the importance of testing and correcting for unit and item nonresponse bias in contingent valuation survey data. When sample nonresponse and selection bias go uncorrected, welfare measures may be overestimated or underestimated contributing to potential errors in resource policy and management decisions.