Contingent Valuation Method from the Point of View of Theory of Planned Behavior: Contribution of social-psychology to understanding of CVM.
2005
Abstract
The author employs insights of social psychology and sociology to understand the mechanism of contingent valuation method. CVM is analyzed using theory of planed behavior developed by I.
Ajzen and M. Fishbein.
According to this theory, stated willingness to pay (or to accept) can be understood as behavioral intention that is influenced by actor?s attitudes, subjective values and perceived behavioral control. Theory of planned behavior can be well used also for analysis of common problems of CVM such as information bias, hypothetical bias, anchoring bias, protest answers and similar biases.