¥
¥Strategic bias arises when the respondent
provides a biased answer in order to influence a particular outcome. If a decision
to preserve a stretch of river for fishing, for example, depends on whether or not the survey
produces a sufficiently large value
for fishing, the respondents
who enjoy fishing may be tempted to provide an answer that ensures a high value, rather than a lower value that
reflects their true
valuation.
¥ Information bias may arise whenever respondents are forced to
value attributes with which they
have little or no experience. In
such cases, the amount and type of information presented to respondents may affect their
answer Non-response bias is a concern when sampling respondents, since individuals
who do not respond are likely to have, on average, different values than individuals who do
respond.
¥ Estimates of nonuse values are difficult to validate
externally.
¥ When conducted to the exacting standards of the profession,
contingent valuation methods can
be very expensive and time-consuming, because of the extensive pre-testing and survey work.
¥Many people, including jurists
policy-makers, economists, and others, do not believe the results of CV.