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What do respondents bring to contingent valuation?: A comparison of monetary and labour payment vehicles
Department of Economics, University of Gothenburg, Box 640, SE405 30 Gothenburg, Sweden.
Department of Economics, University of Gothenburg, Box 640, SE405 30 Gothenburg, Sweden.
Norwegian University of Life Sciences, Box 5003, 1432 Ås, Norway.
Mid Sweden University, Faculty of Human Sciences, Department of Social Sciences.ORCID iD: 0000-0001-7206-6568
2011 (English)Report (Other academic)
Abstract [en]

With contingent valuation, both the goods being valued and the payment vehicles used to value them are mostly hypothetical. However, although numerous studies have examined the impact of experience with the good on willingness to pay, less attention has been given to experience with payment vehicles. This paper examines how this influences responses to a contingent valuation scenario of maintenance for irrigation canals. Specifically, the paper uses a split-sample survey to investigate the effects of experience with monetary and labor payment vehicles on the acceptance of a contingent valuation scenario and protest bids. Using convergent validity tests, we found that experience acquired from using both monetary and labor payment vehicles reduces the asymmetries in acceptance rates. These findings suggest that experience with payment vehicles reduces time/money response asymmetries in the contingent valuation method.

Place, publisher, year, edition, pages
Washington: RFF Press, 2011.
Series
RFF Discussion Paper EfD, 11-13
Keyword [en]
contingent valuation, payment vehicles, numéraires, experience
National Category
Economics
Identifiers
URN: urn:nbn:se:miun:diva-15659OAI: oai:DiVA.org:miun-15659DiVA: diva2:477953
Available from: 2012-01-20 Created: 2012-01-05 Last updated: 2012-01-24Bibliographically approved

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http://www.rff.org/RFF/Documents/EfD-DP-11-13.pdf

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CiteExportLink to record
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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
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Language
  • de-DE
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  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf