What do respondents bring into contingent valuation? A comparison of monetary and labour payment vehicles
Godwin Kofi Vondolia ()
No 508, Working Papers in Economics from University of Gothenburg, Department of Economics
In the Contingent Valuation Method (CVM), 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 the willingness to pay, less attention has been given to experience with the payment vehicles. This paper examines how experience with payment vehicles influences responses to a CV scenario on the maintenance of irrigation canals. Specifically, the paper uses a split-sample survey to investigate the effects of experience with monetary and labour payment vehicles on the acceptance of a CV scenario and protest bids. Using convergent validity tests, we found that experience acquired from using both monetary and labour payment vehicles reduces the asymmetries in acceptance rates. These findings suggest that experience with payment vehicles reduces time/money response asymmetries in the CVM.
Keywords: contingent valuation; payment vehicles; numéraires; experience (search for similar items in EconPapers)
JEL-codes: Q51 Q56 (search for similar items in EconPapers)
Pages: 27 pages
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
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)
Persistent link: https://EconPapers.repec.org/RePEc:hhs:gunwpe:0508
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in Working Papers in Economics from University of Gothenburg, Department of Economics Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden. Contact information at EDIRC.
Bibliographic data for series maintained by Ann-Christin Räätäri Nyström ().