Abstract
The paired comparison (PC) method is used to investigate reliability, transitiv- ity, and decision time for binary choices among goods and sums of money. The PC method reveals inconsistent choices and yields individual prefer- ence order over the set of items being compared. The data reported support the transitivity as- sumption and demonstrate high reliability for individual preference order. The paper also discusses using the PC method to obtain conser- vative median and mean estimates of willingness to accept compensation for public and private goods. The PC method may prove useful for valu- ing public goods, and warrants further study. (JEL 426)
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