The adjustment is made by applying the elasticity of WTP with respect to severity reported in the Krupnick and Cropper (1992) study.
The adjustment is made based on how lax the report is.
mnli hypothesis: The adjustment is made based on how lax the report is. premise: The adjustment is made by applying the elasticity of WTP with respect to severity reported in the Krupnick and Cropper (1992) study.