I want to start a project for which I want to use contingent valuation. I thought about an online questionnaire asking people's WTP and WTA, but I have never conducted such a study. Is there anyone who could help me with it. I thought that the questions will depend on the formulas used afterwards for calculation. Since I have no clue about the formulas and the calculation I need help with this. I good book guiding practitioners would also be helpful.
Thanks
WEB SURVEY: Generally, web survey has low return rate unless one has a specific target group---in which case one must consider whether randomness is important as part of sampling method.
CONTINGENT VALUATION PROJECT: Determine economic utility through the use of survey. This is a means to obtain quantitative value for stated preference. This is different from conventional model where the valuation of the utility of a product/item is revealed, i.e. product A sold for $100. The price $100 is the measure of utility. This is revealed utility. In contingent valuation, one uses survey asking people about the utility of product A---the result will be varied from person-to-person. See article on warning against mis-quantifying or misuse of contingent valuation.
UTILITY MEASUREMENT: It is advisable to look into utility models. How utility is measured? The contingent valuation method is a tool for determining economic utility through the use of survey (stated preference). See how utility are measured through revealed preference, attached articles.
REFERENCES: Two specific articles are attached. The Panel Report articles provides warning on how contingent valuation should be carefully constructed, if used. The second article is a reminder that contingent valuation technique may be misused as a quantitative technique. Other articles on utility should provide a good base to get you started.
In case you want to collaborate send me a message.
Regards,
Sebastien
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