Peer Review of Contingent Valuation of Natural Resource Damages Due to Injuries

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Peer Review of Contingent Valuation of Natural Resource Damages Due to Injuries
Richard C Bishop
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Considering all these aspects, I assigned WA 3 points and EV, 4 points for context. This compares to CF's 3 points on this item.
All three studies clearly elicited willingness to pay and received full marks on Question 8.
The acceptability and believability of the scenarios (Questions 9 and 10 respectively) can be considered together. Recall the difference. Quoting Appendix B, "A study subject accepts the scenario when he or she implicitly agrees to proceed with the valuation exercise based on
...the information and context provided. " A scenario is "believed" to the degree that respondents expect their responses to the contingent valuation question to actually affect how much of the environmental amenities in question they will receive and how much they will actually pay if the intervention is adopted. A scenario is acceptable, yet not believed when respondents agree to engage in "what if" exercises where they know that the scenario is completely hypothetical .
Once again EV ranks higher than the other two studies.


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