What Do Respondents Bring to Contingent Valuation? A Comparison of Monetary and Labor Payment Vehicles
Godwin Kofi Vondolia,
Håkan Eggert,
Stale Navrud and
Jesper Stage
RFF Working Paper Series from Resources for the Future
Abstract:
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.
Keywords: contingent valuation; payment vehicles; numéraires; experience (search for similar items in EconPapers)
JEL-codes: Q51 Q56 (search for similar items in EconPapers)
Date: 2011-12-22
References: Add references at CitEc
Citations: View citations in EconPapers (8)
Downloads: (external link)
http://www.rff.org/RFF/documents/EfD-DP-11-13.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.rff.org/RFF/documents/EfD-DP-11-13.pdf [301 Moved Permanently]--> https://www.rff.org/RFF/documents/EfD-DP-11-13.pdf)
Related works:
Journal Article: What do respondents bring to contingent valuation? A comparison of monetary and labour payment vehicles (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:rff:dpaper:dp-11-13-efd
Access Statistics for this paper
More papers in RFF Working Paper Series from Resources for the Future Contact information at EDIRC.
Bibliographic data for series maintained by Resources for the Future (info@rff.org).