Economic valuation by the method of paired comparison, with emphasis on evaluation of the transitivity axiom

Land Economics

Volumn 74, Issue 2, 1998, Pages 240-261

  Peterson, George L ^a   Brown, Thomas C ^a  

^a ROCKY MOUNTAIN RESEARCH STATION   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

CONTINGENT VALUATION; ECONOMIC ANALYSIS; ENVIRONMENTAL ECONOMICS; PAIRED COMPARISON;

EID: 0031754242     PISSN: 00237639     EISSN: None     Source Type: Journal    
DOI: 10.2307/3147054     Document Type: Article

References (54)

1. Arrow, K. J. 1951. Social Choice and Individual Values. New York: Wiley.
2. Arrow, K., R. Solow, P. R. Portney, E. E. Leamer, R. Radner, and H. Schuman. 1993. "Report of the NOAA Panel on Contingent Valuation." Federal Register 58 (10):4602-14.
3. Bock, R. D., and L. V. Jones. 1968. The Measurement and Prediction of Judgment and Choice. San Francisco: Holden-Day, Inc.
4. Bradley, R. A. 1976. "Science, Statistics, and Paired Comparisons." Biometrics 32:213-32.
5. _. 1984. "Paired Comparisons: some Basic Procedures and Examples." Handbook of Statistics 4, ed. P. R. Krishnaiah and P. K. Sen. Amsterdam, Netherlands: North-Holland.
6. Cummings, R. G., and G. W. Harrison. 1994. "Was the Ohio Court Well Informed in Its Assessment of the Accuracy of the Contingent Valuation Method?" Natural Resources Journal 34:1-36.
7. David, H. A. 1988. The Method of Paired Comparisons. London: Charles Griffin & Company.
8. Deaton, A., and J. Muellbauer. 1957. Economics and Consumer Behavior. New York: Cambridge University Press.
9. Edwards, A. L. 1957. Techniques of Attitude Scale Construction. New York: Appleton-Century-Crofts.
10. Fechner, G. T. 1860. Elemente der Psychophysik. Leipzig: Breitkopf and Härtel.
11. Fisher, A., G. H. McClelland, and W. D. Schulze. 1988. "Measures of Willingness to Pay versus Willingness to Accept: Evidence, Explanations, and Potential Reconciliation." In Amenity Resource Valuation: Integrating Economics with Other Disciplines, eds. G. L. Peterson, B. L. Driver, and R. Gregory. State College, PA: Venture.
12. Freeman, A. M., III. 1993. "The Measurement of Environmental and Resource Values: Theory and Methods." Washington, DC: Resources for the Future.
13. Friedman, D. 1985. "Experimental Economics: Comment." American Economic Review 75: 264.
14. Gordon, I. M., and J. L. Knetsch. 1979. "Consumer's Surplus Measures and the Evaluation of Resources." Land Economics 55 (Feb.):1-10.
15. Green, P. E., and V. Srinivasan. 1978. "Conjoint Analysis in Consumer Research: Issues and Outlook." Journal of Consumer Research 5: 103-23.
16. Guilford, J. P. 1954. Psychometric Methods. New York: McGraw-Hill.
17. Hey, J. D., and C. Orme. 1994. "Investigating Generalizations of Expected Utility Theory Using Experimental Data." Econometrica 62: 1291-1326.
18. Heiner, R. A. 1985. "Experimental Economics: Comment." American Economic Review 75: 260-63.
19. Just, R. E., D. L. Hueth, and A. Schmitz. 1982. Applied Welfare Economics and Public Policy. Englewood Cliffs, NJ: Prentice-Hall.
20. Kahneman, D., and J. L. Knetsch. 1992. "Valuing Public Goods: The Purchase of Moral Satisfaction." Journal of Environmental Economics and Management 22 (1):57-70.
21. Kahneman, D., and A. Tversky. 1979. "Prospect Theory: An Analysis of Decision Under Risk." Econometrica 47:263-291.
22. _. 1984. "Choices, Values, and Frames." American Psychology 39:341-50.
23. Kahneman, D., J. L. Knetsch, and R. H. Thaler. 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem." Journal of Political Economy 98:1325-48.
24. _. 1991. "The Endowment Effect, Loss Aversion, and Status Quo Bias." Journal of Economic Perspectives 5:193-206.
25. Kendall, M., and Jean D. Gibbons. 1990. Rank Correlation Methods. Fifth Edition. Suffock, England: Edward Arnold, Hodder & Stoughton.
26. Kendall, M. G., and B. B. Smith. 1940. "On the Method of Paired Comparisons." Biometrika 31:324-45.
27. Knetsch, J. L. 1984. "Legal Rules and the Basis for Evaluating Economic Losses." International Review of Law and Economics 4:5-13.
28. Lipman, B. L. 1991. "How to Decide How to . . . : Modeling Limited Rationality." Econometrica 59:1105-25.
29. Loehman, E. T., and Vo Hu De. 1982. "Application of Stochastic Choice Modelling to Policy Analysis of Public Goods: A Case Study of Air Quality Improvements." Review of Economics and Statistics 64:474-80.
30. Loehman, E. T., S. Park, and D. Boldt. 1994. "Willingness to Pay for Gains and Losses in Visibility and Health." Land Economics 70 (Nov.):478-98.
31. Luce, R. D. 1959. Individual Choice Behavior. New York: Wiley.
32. _. 1977. "The Choice Axiom after Twenty Years." Journal of Mathematical Psychology 15:215-33.
33. Magat, W. A., W. K. Viscusi, and J. Huber. 1988. "Paired Comparison and Contingent Valuation Approaches to Morbidity Risk Valuation." Journal of Environmental Economics and Management 15:395-411.
34. Maxwell, A. E. 1974. "The Logistic Transformation in the Analysis of Paired-Comparison Data." British Journal of Mathematical and Statistical Psychology 27:62-71.
35. McFadden, D. 1973. "Conditional Logit Analysis of Qualitative Choice Behavior." In Frontiers in Econometrics, ed. P. Zarembka. New York: Academic Press.
36. Mitchell, R. C., and R. T. Carson. 1989. Using Surveys to Value Public Goods: The Contingent Valuation Method. Washington, DC: Resources for the Future.
37. Nunnally, J. C. 1967. Psychometric Theory. New York: McGraw-Hill.
38. Peterson, G. L., R. L. Bishop, and R. M. Michaels. 1973. "Children's Choice of Playground Equipment: Developing Methodology for Integrating Preferences into Environmental Engineering." Journal of Applied Psychology 58:233-38.
39. Portney, P. R. 1994. "The Contingent Valuation Debate: Why Economists Should Care?" Journal of Economic Perspectives 8:3-17.
40. Rutherford, M., Knetsch, J. L., and T. C. Brown. 1998. "Assessing Environmental Losses: Judgments of Importance and Damage Schedules." Harvard Environmental Law Review 22:51-101.
41. Shaw, M. E., and J. M. Wright. 1967. Scales for Measurement of Attitudes. New York: McGraw-Hill.
42. Simon, H. A. 1985. "Human Nature in Politics: The Dialogue of Psychology with Political Science." American Political Science Review 79:293-304.
43. Smith, V. 1985. "Experimental Economics: Reply." The American Economic Review 75: 265-72.
44. Stouffer, S. A., et al. 1950. Measurement and Prediction. New Jersey: Princeton University Press.
45. Thurstone, L. L. 1927. "A Law of Comparative Judgment." Psychology Review 34:273-86.
46. Torgerson, W. S. 1958. Theory and Methods of Scaling. New York: John Wiley & Sons.
47. Tversky, A. 1969. "Intransitivity of Preferences." Psychology Review 76:31-38.
48. Tversky, A., and D. Kahneman. 1981. "The Framing of Decisions and the Psychology of Choice." Science 211:452-58.
49. _. 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model." The Quarterly Journal of Economics 106:1039-61.
50. van Putten, W. L. J. 1982. "Maximum Likelihood Estimation for Luce's Choice Model." Journal of Mathematical Psychology 25:163-74.
51. Viscusi, W. K., W. A. Magat, and J. Huber. 1991. "Pricing Environmental Health Risks: Survey Assessments of Risk-Risk and Risk-Dollar Tradeoffs for Chronic Bronchitis." Journal of Environmental Economics and Management 21 (1):32-51.
52. Wilcox, N. T. 1993. "Lottery Choice: Incentives, Complexity and Decision Time." The Economic Journal 103:1397-1417.
53. Winsberg, S., and J. O. Ramsay. 1981. "Analysis of Pairwise Preference Data Using Integrated B-splines." Psychometrika 46:171-86.
54. Yellott, J. I. 1977. "The Relationship between Luce's Choice Axiom, Thurstone's Theory of Comparative Judgement, and the Double Exponential Distribution." Journal of Mathematical Psychology 15:109-44.