Ian H. Langford, Ian J. Bateman, Andrew P. Jones, Hugh D. Langford, Stavros Georgiou, Improved Estimation of Willingness to Pay in Dichotomous Choice Contingent Valuation Studies, Land Economics, Vol. 74, No. 1 (Feb., 1998), pp. 65-75
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Langford et al. (1998) studied this question.