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How people respond to contingent valuation questions: A verbal protocol analysis of willingness to pay for an environmental regulation

Publication ,  Journal Article
Schkade, DA; Payne, JW
Published in: Journal of Environmental Economics and Management
January 1, 1994

This paper investigates what a respondent is thinking when answering a willingness-to-pay question in a contingent valuation, using a "think aloud" technique from psychology called verbal protocol analysis. The willingness-to-pay responses we observed seem to be constructed from a variety of considerations, including an obligation to pay a fair share of the cost of the solution and signaling concern for a larger set of environmental issues. The finding that respondents seem to construct their values at the time they are asked, rather than reporting a more well-defined value, is seen as consistent with over two decades of research on the psychology of decision making. Potential uses of verbal protocols in contingent valuation studies are also discussed. © 1994 by Academic Press, Inc.

Duke Scholars

Published In

Journal of Environmental Economics and Management

DOI

EISSN

1096-0449

ISSN

0095-0696

Publication Date

January 1, 1994

Volume

26

Issue

1

Start / End Page

88 / 109

Related Subject Headings

  • Agricultural Economics & Policy
  • 3801 Applied economics
  • 1402 Applied Economics
  • 1401 Economic Theory
  • 0502 Environmental Science and Management
 

Citation

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Schkade, D. A., & Payne, J. W. (1994). How people respond to contingent valuation questions: A verbal protocol analysis of willingness to pay for an environmental regulation. Journal of Environmental Economics and Management, 26(1), 88–109. https://doi.org/10.1006/jeem.1994.1006
Schkade, D. A., and J. W. Payne. “How people respond to contingent valuation questions: A verbal protocol analysis of willingness to pay for an environmental regulation.” Journal of Environmental Economics and Management 26, no. 1 (January 1, 1994): 88–109. https://doi.org/10.1006/jeem.1994.1006.
Schkade DA, Payne JW. How people respond to contingent valuation questions: A verbal protocol analysis of willingness to pay for an environmental regulation. Journal of Environmental Economics and Management. 1994 Jan 1;26(1):88–109.
Schkade, D. A., and J. W. Payne. “How people respond to contingent valuation questions: A verbal protocol analysis of willingness to pay for an environmental regulation.” Journal of Environmental Economics and Management, vol. 26, no. 1, Jan. 1994, pp. 88–109. Scopus, doi:10.1006/jeem.1994.1006.
Schkade DA, Payne JW. How people respond to contingent valuation questions: A verbal protocol analysis of willingness to pay for an environmental regulation. Journal of Environmental Economics and Management. 1994 Jan 1;26(1):88–109.
Journal cover image

Published In

Journal of Environmental Economics and Management

DOI

EISSN

1096-0449

ISSN

0095-0696

Publication Date

January 1, 1994

Volume

26

Issue

1

Start / End Page

88 / 109

Related Subject Headings

  • Agricultural Economics & Policy
  • 3801 Applied economics
  • 1402 Applied Economics
  • 1401 Economic Theory
  • 0502 Environmental Science and Management