A new working paper shows that everything isn’t fine

  • By admin
  • October 12, 2023
  • 0

In which we* use old-timey contingent valuation willingness to pay for a recreation trip questions. After this paper and others (in the past and in the future), I’m thinking that attribute non-attendance mitigates hypothetical bias, fat tails, scope insensitivity, etc. I’m not sure why it hasn’t caught on 100% yet. Everyone seems to think that if we can only use stated preference “best practices” then everything is going to be fine. I think no, everything isn’t fine (and that doesn’t even factor in the enormous cost of stated preference “best practices.”

Here is the link: https://econpapers.repec.org/paper/aplwpaper/23-09.htm

*Authors: John C. Whitehead, William P. Anderson, Jr., Dennis Guignet, Craig E. Landry and O. Ashton Morgan

**Not that we had enough money for “best practices” for this paper.