With a little help from an anchor: Discussion and evidence of anchoring effects in contingent valuation

Van Exel, J; Brouwer, W; Van den Berg, B; Koopmanschap, M

With a little help from an anchor: Discussion and evidence of anchoring effects in contingent valuation

Van Exel, J Brouwer, W Van den Berg, B Koopmanschap, M

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Publisher:: Elsevier BV, North-Holland
Publication Type:: Journal Article
Citation:: Journal of Socio-Economics, 2006, 35 (5), pp. 836 - 853
Issue Date:: 2006-01

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Field	Value	Language
dc.contributor.author	Van Exel, J	en_US
dc.contributor.author	Brouwer, W	en_US
dc.contributor.author	Van den Berg, B	en_US
dc.contributor.author	Koopmanschap, M	en_US
dc.date.issued	2006-01	en_US
dc.identifier.citation	Journal of Socio-Economics, 2006, 35 (5), pp. 836 - 853	en_US
dc.identifier.issn	1053-5357	en_US
dc.identifier.uri	http://hdl.handle.net/10453/5098
dc.description.abstract	Contingent valuation enjoys increasing popularity among transport, environmental and health economists, though the method has often been criticized. We discuss the main points of controversy, with a focus on anchoring effects. Available literature indicates that higher ambiguity, lower familiarity, relevance or involvement with the problem, a more trustworthy source and a more plausible bid tend to be associated with stronger anchoring effects. In two studies among informal caregivers we found that respondents use all sorts of anchors when eliciting their value of time. We end with a discussion of the substantive significance of CV for economics.	en_US
dc.publisher	Elsevier BV, North-Holland	en_US
dc.relation.ispartof	Journal of Socio-Economics	en_US
dc.relation.isbasedon	10.1016/j.socec.2005.11.045	en_US
dc.subject.classification	Economics	en_US
dc.title	With a little help from an anchor: Discussion and evidence of anchoring effects in contingent valuation	en_US
dc.type	Journal Article
utslib.citation.volume	5	en_US
utslib.citation.volume	35	en_US
utslib.for	140208 Health Economics	en_US
utslib.for	1401 Economic Theory	en_US
utslib.for	1402 Applied Economics	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.consider-herdc	true	en_US
pubs.issue	5	en_US
pubs.volume	35	en_US

Abstract:

Contingent valuation enjoys increasing popularity among transport, environmental and health economists, though the method has often been criticized. We discuss the main points of controversy, with a focus on anchoring effects. Available literature indicates that higher ambiguity, lower familiarity, relevance or involvement with the problem, a more trustworthy source and a more plausible bid tend to be associated with stronger anchoring effects. In two studies among informal caregivers we found that respondents use all sorts of anchors when eliciting their value of time. We end with a discussion of the substantive significance of CV for economics.

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http://hdl.handle.net/10453/5098