RT Journal Article
SR Electronic
T1 Incentive Incompatibility and Starting-Point Bias in Iterative Valuation Questions: Comment
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 312
OP 315
DO 10.2307/3654745
VO 80
IS 2
A1 David Aadland
A1 Arthur J. Caplan
YR 2004
UL http://le.uwpress.org/content/80/2/312.abstract
AB In a recent study, Whitehead (2002) proposes incentive-incompatibility and starting-point-bias tests for iterative willingness-to-pay questions. We show that if restrictions associated with the nature of starting-point bias are not imposed on the estimation, one obtains inconsistent estimates of the structural parameters and may draw inaccurate conclusions regarding the extent of incentive incompatibility and starting-point bias in contingent-valuation survey data. (JEL Q26, C35)