Using Conjoint Analysis to Derive Estimates of Compensating Variation

Roe, Brian E.; Boyle, Kevin J.; Teisl, Mario F.

doi:10.1006/jeem.1996.0037

Cited by 189 publications

(114 citation statements)

References 0 publications

Supporting

Mentioning

103

Contrasting

Unclassified

Order By: Relevance

“…Actually, Van den Berg et al (2005b) concluded that being familiar with making choices regarding caregiving might be an explanation for the relative small difference between willingness to pay and willingness to accept (WTA) results found with this sample as opposed to many other contingent valuation studies. Third, the results obtained with contingent valuation and conjoint analysis depend on the format and framing of the question (Boyle et al, 2001;Johannesson and Borgquist, 1991;Johannesson et al, 1993;Roe et al, 1996). There is no evidence regarding format or framing effects in the well-being valuation method so far, and this paper will address this issue in more detail.…”

Section: Introductionmentioning

confidence: 89%

Monetary valuation of informal care: the well‐being valuation method

2007

View full text Add to dashboard Cite

SUMMARYThis paper estimates the monetary value of providing informal care by means of a well-being valuation method. This is done by assessing the compensating variation necessary to maintain the same level of well-being after an informal caregiver provides an extra hour of informal care. The informal caregiver's well-being is proxied by the answer to two subjective well-being questions that were posed in a questionnaire answered by 865 Dutch informal caregivers between the end of 2001 and the beginning of 2002. In the econometric analysis, a distinction is made between the care recipients who are and the ones who are not a family member of the informal caregiver. The results indicate that an extra hour of informal care is worth about 9 or 10 Euros. This equals 8 or 9 Euros if the care recipient is a family member and about 7 or 9 Euros if not. When applying the contingent valuation method to the same sample, the value obtained was 10.52 Euros per hour. This paper concludes that the well-being valuation method is a useful complement to the more traditional valuation methods in the health economics literature in general and more particularly for the economic valuation of informal care: it includes all costs and effects associated with providing care from the perspective of the informal caregiver, it is relatively cheap to implement, and it offers an additional possibility to determine the convergent validity of the different monetary valuation methods.

show abstract

Section: Introductionmentioning

confidence: 89%

Monetary valuation of informal care: the well‐being valuation method

2007

View full text Add to dashboard Cite

show abstract

“…He found that the ratings model yielded the most efficient estimates of valuations, meaning lower variances in estimates. Roe et al (24) also tested for differences in using CJ rankings versus ratings in valuing salmon management options. Their experimental design required individuals to rate four management scenarios on a scale of 1-10.…”

Section: How Have Economists Applied Cj To Environmental Valuation?mentioning

confidence: 99%

“…For example, Roe et al (24) note that while CVM asks people whether they would "buy" a good or scenario, CJ only determines the structure of underlying preferences and not whether the person would behave on the basis of those preferences. They suggest combining CJ with contingent behavior questions.…”

Section: How Have Economists Applied Cj To Environmental Valuation?mentioning

confidence: 99%

Using Conjoint Analysis To Value Ecosystem Change

Färber

Griner

2000

Environ. Sci. Technol.

View full text Add to dashboard Cite

Economists have developed a variety of methods to measure the values of environmental goods and services. Conjoint analysis (CJ) is a technique developed by mathematical psychologists to establish the structure of preferences across multi-attribute alternatives. It is a type of stated-preference method that has captured the attention of economists for purposes of analyzing preferences toward environmental goods and services. This paper outlines the applicability of CJ to environmental valuation, illustrates applications and valuation issues in the literature, and presents an application of CJ to valuing a Pennsylvania watershed quality improvement.

show abstract

“…For instance, the respondent may restrict attention to one or two key attributes, ignoring the others. Because of these considerations, when we designed our conjoint choice experiment, we deemed it best to present respondents with a small number of choice tasks, and to limit the number of attributes describing each alternative.In earlier applications of conjoint analysis, respondents were sometimes asked to rate the alternatives (e.g., assign ratings ranging from 1 to 10, where 1 denotes low preference and 10 denotes the highest degree of desirability), or to rank the alternatives from the most preferred to the least preferred (Roe et al, 1996). However, these approaches have been criticized for various reasons (Hanley et al, 2001).…”

mentioning

confidence: 99%

“…In earlier applications of conjoint analysis, respondents were sometimes asked to rate the alternatives (e.g., assign ratings ranging from 1 to 10, where 1 denotes low preference and 10 denotes the highest degree of desirability), or to rank the alternatives from the most preferred to the least preferred (Roe et al, 1996). However, these approaches have been criticized for various reasons (Hanley et al, 2001).…”

mentioning

confidence: 99%

Can People Value the Aesthetic and Use Services of Urban Sites? Evidence from a Survey of Belfast Residents

2002

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The opinions expressed in this paper do not necessarily reflect the position of Fondazione Eni Enrico Mattei Terms of use: Documents in EconStor may Can People Value the Aesthetic and Use Services of Urban Sites? Evidence from a Survey of Belfast Residents SummaryThis study explores the potential of conjoint choice analysis for planning decisions in urban sites. We elicit people's preferences for regeneration projects that change the aesthetic and use character of specified urban sites. We focus on two sets of regeneration projects. The first set entails hypothetical transformations of an actual square with an important cultural and historical dimension. The other set of projects consists of hypothetical transformations of an abstract square. Each regeneration project is defined by aesthetic and use attributes. Our results suggest that people behaved in a way that is consistent with the Random Utility Model for the abstract square, and that there are both similarities and differences between preferences for the actual and the abstract square. Keywords IntroductionWhen planning decisions have to be made about urban areas, and about projects for the regeneration and reuse of existing sites and public spaces in urban areas, economists would suggest that at least some consideration be given to the costs and the benefits associated with these projects.It is, however, sometimes difficult to compute the monetary benefits of urban regeneratio n and restoration projects, because many of the services that they provide to the public -including aesthetic quality, comfort, sense of neighborhood identity, town character, preservation of cultural and historical heritage, access to outdoor space-are non-market goods. Lacking markets where these services are traded, economists have devised a number of methods to place a monetary value on them.Contingent valuation is one such method. The contingent valuation approach (see Mitchell and Carson, 1989) surveys individuals, asking them directly to report their willingness to pay (WTP) for a specified (change in the provision of a) public or private good. Conjoint analysis is a variant of contingent valuation where respondents are asked to rate, rank, or choos e between hypothetical public programs or commodities described by a set of attributes (see Hanley et al. 2001). Respondents trade off the attributes of the programs or goods, one of which is usually its cost to the respondent. Recent high-quality valuation efforts based ...

show abstract

Using Conjoint Analysis to Derive Estimates of Compensating Variation

Cited by 189 publications

References 0 publications

Monetary valuation of informal care: the well‐being valuation method

Monetary valuation of informal care: the well‐being valuation method

Using Conjoint Analysis To Value Ecosystem Change

Can People Value the Aesthetic and Use Services of Urban Sites? Evidence from a Survey of Belfast Residents

Contact Info

Product

Resources

About