Yea-Saying in Contingent Valuation Surveys
A number of recent papers have provided estimates of willingness to pay derived in contingent valuation surveys exceeding those revealed in experimental or real-life markets. One possible explanation for the overestimation of values is the presence of yea-saying. With the objective of reducing the occurrence of yea-saying, a new elicitation format, referred to as the dissonance-minimizing (DM) format, is proposed. An empirical comparison of the DM format with the conventional dichotomous-choice...[Show more]
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