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What do respondents bring to contingent valuation?: A comparison of monetary and labor payment vehicles
Göteborgs universitet; universitetet i Tromsø.
Göteborgs universitet.
Norges miljö- och biovetenskapliga universitet.
Mid Sweden University, Faculty of Human Sciences, Department of Business, Economics and Law.ORCID iD: 0000-0001-7206-6568
2014 (English)In: Journal of Environmental Economics and Policy, ISSN 2160-6544, Vol. 3, no 3, p. 253-267Article in journal (Refereed) Published
Abstract [en]

In the contingent valuation method, 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 the willingness to pay, less attention has been given to experience with the payment vehicles. This paper examines how experience with payment vehicles influence responses to a contingent valuation scenario on maintaining irrigation canals in a developing country. 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, protest bids and mean willingness to pay. 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
2014. Vol. 3, no 3, p. 253-267
Keywords [en]
Contingent valuation, payment vehicles, numéraires, experience
National Category
Economics
Identifiers
URN: urn:nbn:se:miun:diva-21216DOI: 10.1080/21606544.2014.892034OAI: oai:DiVA.org:miun-21216DiVA, id: diva2:693058
Projects
Water as an economic resource
Funder
Sida - Swedish International Development Cooperation AgencyFormasAvailable from: 2014-02-03 Created: 2014-02-03 Last updated: 2014-11-19Bibliographically approved

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Stage, Jesper

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  • apa
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  • en-US
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  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
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  • text
  • asciidoc
  • rtf