I aim to describe a new problem with contingent valuation studies, and to suggest the nature and severity of the difficulties in surmounting it.1 The source of the problem, in brief, is category-bound thinking. When people explore particular problems in isolation, they normalize them by comparing them to a cognitively accessible comparison set, consisting of cases from the same basic category.
Can a "ferocious" critic of arts economic impact (EIM) studies, who has labeled them a "fashionable excess," and called instead for more extensive use of alternatives such as contingent valuation (CVM) studies develop some belated sympathy for their continued use?
Assessing the Public Service Element of Irish Public Broadcasting – The Validity of the Contingent Valuation Method
In this study, we examine the Irish public service broadcaster (PSB), Radio Telefís Éireann (RTÉ).
Using Stated-Preference Questions to Investigate Variation in Willingness to Pay for Preserving Marble Monuments: Classical Heterogeneity and Random Parameters
The goal of this paper is three-fold: to estimate mean willingness to pay (WTP) for the preservation of these cultural resources, to determine the extent to which individual WTP varies, and to try to explain WTP variation as a function of individual characteristics such as age, income, gender, and ethnicity.
This paper concerns whether contingent valuation methods could play a useful role in determining whether a particular work of art is of "recognized quality."