PT  - JOURNAL ARTICLE
AU  - Luo, Yicong
AU  - Swallow, Brent M.
AU  - Adamowicz, Wiktor L.
TI  - Using Willingness to Pay and Willingness to Accept to Value Farmland Preservation under Ambiguous Property Rights and Preference Uncertainty
AID  - 10.3368/le.98.4.060120-0074R2
DP  - 2022 Nov 01
TA  - Land Economics
PG  - 639--657
VI  - 98
IP  - 4
4099  - http://le.uwpress.org/content/98/4/639.short
4100  - http://le.uwpress.org/content/98/4/639.full
SO  - Land Econ2022 Nov 01; 98
AB  - We use a paired-sample binary choice experiment to estimate willingness to pay (WTP) and willingness to accept (WTA) values when land is converted from agriculture to developed uses in Alberta, Canada. Validated principles for stated preference are followed in scenario design, elicitation format, experimental design, and ancillary questions. Preference uncertainty is addressed through alternative calibration of uncertain responses. Reliability and incentive compatibility measures indicate that respondents found both WTP and WTA scenarios to be plausible and incentive compatible. WTA-WTP value gaps are smaller than most previous studies, with consequentiality increasing WTA, WTP, and the gap between WTA and WTP. (JEL Q51, Q58)