Publications [#275548] of John W. Payne

Papers Published

1. Schkade, DA; Payne, JW, How people respond to contingent valuation questions: A verbal protocol analysis of willingness to pay for an environmental regulation, Journal of Environmental Economics and Management, vol. 26 no. 1 (January, 1994), pp. 88-109, Elsevier BV, ISSN 0095-0696 [doi]
   (last updated on 2023/06/01)

   Abstract:
   This paper investigates what a respondent is thinking when answering a willingness-to-pay question in a contingent valuation, using a "think aloud" technique from psychology called verbal protocol analysis. The willingness-to-pay responses we observed seem to be constructed from a variety of considerations, including an obligation to pay a fair share of the cost of the solution and signaling concern for a larger set of environmental issues. The finding that respondents seem to construct their values at the time they are asked, rather than reporting a more well-defined value, is seen as consistent with over two decades of research on the psychology of decision making. Potential uses of verbal protocols in contingent valuation studies are also discussed. © 1994 by Academic Press, Inc.