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| Author: | Camacho-Cuena, E. (et al.) |
| Title: | An experimental test of response consistency in contingent valuation |
| Journal: | Ecological Economics
2003 : DEC, VOL. 47:2-3, p. 167-182 |
| Index terms: | Contingent valuation Ecology Furniture industry |
| Freeterms: | Experiments |
| Language: | eng |
| Abstract: | Hypothetical and observed (experimental) willingness to pay (WTP) is compared for a gradual improvement in the environmental performance of a marketed good (an office table). First, usual practices in marketing research are followed and thus subjects' stated WTP for the improvement is obtained. Then, the same subjects participate in a real reward experiment designed to replicate the scenario valued in the hypothetical question. The results indicate that, independently of the degree of the improvement, there are no significant median differences between stated and experimental data. |
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