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Cognitive ability and scale bias in the contingent valuation method: An analysis of willingness to pay to reduce mortality risk
Department of Transport Economics, Swedish National Road and Transport Research Institute (VTI).
Handelshögskolan vid Örebro universitet, Örebro universitet.
2008 (English)In: Environmental and Resource Economics, ISSN 0924-6460, E-ISSN 1573-1502, Vol. 39, no 4, 481-495 p.Article in journal (Refereed) Published
Abstract [en]

This study investigates whether or not the scale bias found in contingent valuation (CVM) studies on mortality risk reductions is a result of cognitive constraints among respondents. Scale bias refers to insensitivity and non-near-proportionality of the respondents’ willingness to pay (WTP) to the size of the risk reduction. Two hundred Swedish students participated in an experiment in which their cognitive ability was tested before they took part in a CVM-study asking them about their WTP to reduce bus-mortality risk. The results imply that WTP answers from respondents with a higher cognitive ability are less flawed by scale bias.

Place, publisher, year, edition, pages
2008. Vol. 39, no 4, 481-495 p.
Keyword [en]
Cognitive ability, Contingent valuation, Mortality risk, Near-proportionality
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:kau:diva-12031DOI: 10.1007/s10640-007-9137-0OAI: oai:DiVA.org:kau-12031DiVA: diva2:507922
Available from: 2012-03-06 Created: 2012-03-06 Last updated: 2012-10-22Bibliographically approved

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CiteExportLink to record
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