THE CHOICE OF ELICITATION METHODS IN CVM AND THEIR IMPACT ON WILLINGNESS TO PAY IN ENVIRONMENTAL ASSESSMENT

概要

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The choice of the question format constitutes one of the major exercises in contingent valuation method (CVM) studies. However, although various methods are available, none of these are considered to be perfect. This paper aims to examine the effects of varying the elicitation methods on willingness to pay (WTP) of the respondents by summarizing the findings of two environmental assessment case studies conducted on Nagasaki City. Three types of elicitation methods are applied in the case studies: open-ended, single bounded dichotomous-choice and double-bounded dichotomous-choice questions. Results indicate that free riding and lack of base for answering question leads to underestimation of WTP under open-ended format. Whereas, the anchoring effect is presented in dichotomous choice format where the bid level provided raises the probability of accepting it. Based on the drawbacks of both the methods, recommendations are provided for using a new format of question to avoid the demerits.