search query: @indexterm contingent valuation / total: 60
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| Author: | Blumenschein, K. (et al.) |
| Title: | Eliciting willingness to pay without bias: Evidence from a field experiment |
| Journal: | Economic Journal
2008 : JAN, VOL. 118:525, p. 114-137 |
| Index terms: | USA contingent valuation |
| Freeterms: | willingness to pay |
| Language: | eng |
| Abstract: | Hypothetical willingness to pay (WTP) questions are supposed to overestimate real WTP. Two methods of removing hypothetical bias (hereafter as: h-b.) are compared with real purchases: i. a cheap talk approach and ii. a certainty approach. There is found evidence of h-b. for plain contingent valuation (here as: c-v). C-v. with certainty statements removes the h-b., but the i. approach has no significant impact. It is suggested that WTP could be accurately estimated by adding a simple follow-up question about the certainty of responses and that i. approach is not a generally effective one. |
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