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Test‐Retest Reliability of the Contingent Valuation Method: A Comparison of General Population and Visitor Responses
Author(s) -
Loomis John B.
Publication year - 1989
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 - 10.2307/1241776
Subject(s) - contingent valuation , visitor pattern , willingness to pay , sample (material) , statistics , population , test (biology) , statistical significance , psychology , significant difference , econometrics , mathematics , demography , actuarial science , economics , computer science , sociology , paleontology , chemistry , chromatography , microeconomics , biology , programming language
The reliability of the contingent valuation method is evaluated by resurveying the same general households and visitors nine months after their original survey. Test‐retest correlations on willingness to pay are statistically significant and ranged from. 422 for the general population sample to. 782 for the visitor sample. Using a paired T ‐test, there was no statistical difference between an individual's first and second reported willingness to pay. Chow tests comparing the original and resurvey willingness‐to‐pay functions showed no statistical difference at the .01 level. Reported willingness to pay is reasonably stable over the time period surveyed.