Random error in willingness to pay measurement: A multiple indicators, latent variable approach to the reliability of contingent values

The reliability of measurement refers to unsystematic error in observed responses. Investigations of the prevalence of random error in stated estimates of willingness to pay (WTP) are important to an understanding of why tests of validity in CV can fail. However, published reliability studies have tended to adopt empirical methods that have practical and conceptual limitations when applied to WTP responses. This contention is supported in a review of contingent valuation reliability studies that demonstrate important limitations of existing approaches to WTP reliability. It is argued that empirical assessments of the reliability of contingent values may be better dealt with by using multiple indicators to measure the latent WTP distribution. This latent variable approach is demonstrated with data obtained from a WTP study for stormwater pollution abatement. Attitude variables were employed as a way of assessing the reliability of open-ended WTP (with benchmarked payment cards) for stormwater pollution abatement. The results indicated that participants' decisions to pay were reliably measured, but not the magnitude of the WTP bids. This finding highlights the need to better discern what is actually being measured in VVTP studies, (C) 2003 Elsevier B.V. All rights reserved.

An unusual pliosaur (Reptilia, Sauropterygia) from the Kimmeridgian (Upper Jurassic) of northeastern Mexico

We here describe the rostrum of a pliosaur from the Kimmeridgian of northeastern Mexico. The specimen comes from the Upper Jurassic La Casita Formation (Kimmeridgian - Tithonian) and represents one of the few Plesiosauria in the area. The internal anatomy of the specimen is partly visible through cross-sections, which reveal a hitherto undescribed rostral prolongation of a paired bone of the interorbital area, probably the parietal or frontal beneath the premaxillae. The specimen also provides new information on the morphology and function of the choanae. In light of these morphological data, the new pliosaur shows similarities both with the European Late Jurassic genus Pliosaurus and the Australian Early Cretaceous Kronosaurus.