Inferred valuation versus conventional contingent valuation: A salinity intrusion case study.
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| Title: | Inferred valuation versus conventional contingent valuation: A salinity intrusion case study. |
|---|---|
| Authors: | Khong, Tien Dung1,2 (AUTHOR) ktdung@ctu.edu.vn, Loch, Adam1 (AUTHOR), Young, Michael D.1 (AUTHOR) |
| Source: | Journal of Environmental Management. Aug2019, Vol. 243, p95-104. 10p. |
| Subjects: | Contingent valuation, Valuation, Social desirability, Salinity, Government policy, River deltas |
| Geographic Terms: | Mekong River Delta (Vietnam & Cambodia), Vietnam |
| Abstract: | People's willingness-to-pay values may be inflated by a variety of influences (e.g. hypothetical bias), which means that stated preference validity tests remain relevant. Recently developed inferred valuation approaches may serve to identify and/or reduce inflated stated preference values. However, economic applications of inferred valuation approaches are relatively limited in the literature, and the evidence remains mixed. This paper examines farmers' willingness-to-pay for salinity intrusion mitigation programs in the Mekong River Delta of Vietnam using both conventional contingent and inferred valuation approaches. Inferred valuation estimates were as much as 31 per cent lower than conventional estimates of willingness-to-pay, and averaged about 24 per cent lower across the groups. We discuss these findings, and the role that commitment costs and provision point mechanism payment vehicles may play. Public policy implications for any future salinity intrusion mitigation program are also outlined. • Social desirability bias reduction potential is explored using inferred valuation. • Inferred valuation estimates reveal lower values than conventional direct questions. • Willing-to-pay determinants are consistent across different valuation approaches. • Direct and indirect techniques are essential for public good policy implementation. [ABSTRACT FROM AUTHOR] |
| Copyright of Journal of Environmental Management is the property of Academic Press Inc. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Engineering Source |
| FullText | Text: Availability: 0 |
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| Header | DbId: egs DbLabel: Engineering Source An: 136615550 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Inferred valuation versus conventional contingent valuation: A salinity intrusion case study. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Khong%2C+Tien+Dung%22">Khong, Tien Dung</searchLink><relatesTo>1,2</relatesTo> (AUTHOR)<i> ktdung@ctu.edu.vn</i><br /><searchLink fieldCode="AR" term="%22Loch%2C+Adam%22">Loch, Adam</searchLink><relatesTo>1</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Young%2C+Michael+D%2E%22">Young, Michael D.</searchLink><relatesTo>1</relatesTo> (AUTHOR) – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Journal+of+Environmental+Management%22">Journal of Environmental Management</searchLink>. Aug2019, Vol. 243, p95-104. 10p. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Contingent+valuation%22">Contingent valuation</searchLink><br /><searchLink fieldCode="DE" term="%22Valuation%22">Valuation</searchLink><br /><searchLink fieldCode="DE" term="%22Social+desirability%22">Social desirability</searchLink><br /><searchLink fieldCode="DE" term="%22Salinity%22">Salinity</searchLink><br /><searchLink fieldCode="DE" term="%22Government+policy%22">Government policy</searchLink><br /><searchLink fieldCode="DE" term="%22River+deltas%22">River deltas</searchLink> – Name: SubjectGeographic Label: Geographic Terms Group: Su Data: <searchLink fieldCode="DE" term="%22Mekong+River+Delta+%28Vietnam+%26+Cambodia%29%22">Mekong River Delta (Vietnam & Cambodia)</searchLink><br /><searchLink fieldCode="DE" term="%22Vietnam%22">Vietnam</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: People's willingness-to-pay values may be inflated by a variety of influences (e.g. hypothetical bias), which means that stated preference validity tests remain relevant. Recently developed inferred valuation approaches may serve to identify and/or reduce inflated stated preference values. However, economic applications of inferred valuation approaches are relatively limited in the literature, and the evidence remains mixed. This paper examines farmers' willingness-to-pay for salinity intrusion mitigation programs in the Mekong River Delta of Vietnam using both conventional contingent and inferred valuation approaches. Inferred valuation estimates were as much as 31 per cent lower than conventional estimates of willingness-to-pay, and averaged about 24 per cent lower across the groups. We discuss these findings, and the role that commitment costs and provision point mechanism payment vehicles may play. Public policy implications for any future salinity intrusion mitigation program are also outlined. • Social desirability bias reduction potential is explored using inferred valuation. • Inferred valuation estimates reveal lower values than conventional direct questions. • Willing-to-pay determinants are consistent across different valuation approaches. • Direct and indirect techniques are essential for public good policy implementation. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Journal of Environmental Management is the property of Academic Press Inc. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1016/j.jenvman.2019.05.009 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 10 StartPage: 95 Subjects: – SubjectFull: Contingent valuation Type: general – SubjectFull: Valuation Type: general – SubjectFull: Social desirability Type: general – SubjectFull: Salinity Type: general – SubjectFull: Government policy Type: general – SubjectFull: River deltas Type: general – SubjectFull: Mekong River Delta (Vietnam & Cambodia) Type: general – SubjectFull: Vietnam Type: general Titles: – TitleFull: Inferred valuation versus conventional contingent valuation: A salinity intrusion case study. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Khong, Tien Dung – PersonEntity: Name: NameFull: Loch, Adam – PersonEntity: Name: NameFull: Young, Michael D. IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 08 Text: Aug2019 Type: published Y: 2019 Identifiers: – Type: issn-print Value: 03014797 Numbering: – Type: volume Value: 243 Titles: – TitleFull: Journal of Environmental Management Type: main |
| ResultId | 1 |
