Willingness-to-Pay for Information: Experiex-post, have been developed to mitigate or eliminate the overstatement of hypothetical willingness to pay. The ex-ante approach addresses hypothetical bias in the survey design stage while the ex-post approach addresses hypothetical bias with follow-up questions to the hypothetical willingness to pay question. We find that willingness to pay estimates are similar when either the ex-ante or ex-post approach is employed. We argue the approaches should be considered as complements and not substitutes. Employing both approaches to mitigate hypothetical bias we estimate that the annual benefits of the regional amenities associated with a green energy program in North Carolina are $186 million

David Dickinson and Dee Von Bailey
Authors registered in the RePEc Author Service: Todd L. Cherry

No 04-21, Working Papers from Department of Economics, Appalachian State University

Keywords: Hypothetical Bias; Willingness to Pay; Green Energy (search for similar items in EconPapers)
JEL-codes: Q51 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (7)

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