Commodity prices as payment vehicles in valuation experiments

Per-Olov Johansson

Environmental & Resource Economics, 1996, vol. 8, issue 2, 247-254

Abstract: Many contingent valuation experiments use commodity prices as the payment vehicle. In this note it is shown, in general, that this approach does not allow the investigator to extract the respondent's willingness to pay. However, it is also shown how the valuation question can be formulated so as to yield a commodity price payment vehicle which is equivalent to a lump sum payment. Copyright Kluwer Academic Publishers 1996

Keywords: willingness to pay; payment vehicle; commodity prices; path dependency (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/BF00357366

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