What kind of bias are you concerned about in respondents

Reference no: EM132199091

Question: Contingent Valuation Method The home owners' association (HOA) in Prof. Sesmero's neighborhood is considering building a pond and a park in a corner of the neighborhood. However, the investment is only justified if home owners are willing to pay its cost. The total investment would be about $10,000 and around 100 families live in the neighborhood. Using the information on the lectures posted on blackboard for these types of situations, answer the following questions

a. Please write two questions that would possibly elicit people's willingness to pay for the pond and park, and make them sequential. In addition to writing the question, justify your choice.

b. What kind of bias are you concerned about in respondents' reported valuation?

Reference no: EM132199091

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