Valuing Water Quality Monitoring: A Contingent Valuation Experiment Involving Hypothetical and Real Payments
نویسندگان
چکیده
منابع مشابه
External Validity of Contingent Valuation: Comparing Hypothetical and Actual Payments.
Whilst contingent valuation is increasingly used in economics to value benefits, questions remain concerning its external validity that is do hypothetical responses match actual responses? We present results from the first within sample field test. Whilst Hypothetical No is always an Actual No, Hypothetical Yes exceed Actual Yes responses. A constant rate of response reversals across bids/price...
متن کاملValuing the Arts: A Contingent Valuation Approach
Government funding of the arts has received considerable attention in the United States in recent years. Efforts to cut funding to the National Endowment for the Arts and declining budgets for state arts agencies have raised questions about how much individuals value the arts. This paper applies the contingent valuation method to assess this value, using surveys of random households and of arts...
متن کاملContingent Valuation, Hypothetical Bias and Experimental Economics
Although the contingent valuation method has been widely used to value a diverse array of nonmarket environmental and natural resource commodities, recent empirical evidence suggests that it may not accurately estimate real economic values. The hypothetical nature of environmental valuation surveys typically results in responses that are significantly greater than actual payments. Economists ha...
متن کاملValuing Tropical Rainforest Protection Using the Contingent Valuation Method
In the last several decades, the intensity and scale of forest exploitation have increased significantly. A large number of developing countries experiencing increasing deforestation trends are also facing acute shortages of fuelwood, fodder, industrial t imber, and other forest products for domestic USC . Besides potential environmental degradation, depletion of forests and trees may exacerbat...
متن کاملHypothetical Bias in Dichotomous Choice Contingent Valuation Studies
This paper uses a meta-analysis to explore the relationship between hypothetical bias and the price respondents are asked to pay. For public goods, the results clearly indicate a difference in the price elasticity between hypothetical and actual payment conditions. Since the bias increases for larger dollar amounts, any simple guidelines, such as NOAA’s “divide by two” rule of thumb, could be m...
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ژورنال
عنوان ژورنال: Agricultural and Resource Economics Review
سال: 1998
ISSN: 1068-2805,2372-2614
DOI: 10.1017/s1068280500001672