Cvm-X: Calibrating Contingent Values with Experimental Auction Markets

John Fox, Jason Shogren, Dermot Hayes and James Kliebenstein

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: We design and implement a method, CVM-X, to calibrate hypothetical survey values using experimental auction markets. We test the procedure using consumer willingness-to-pay for irradiated/nonirradiated meat. Our results show that calibration factors for those who favor the irradiation process (0.67-0.69) are less severe than for those with an initial dislike of the process (0.55-0.59), suggesting that calibration may be commodity specific.

Date: 1998-08-01
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Published in American Journal of Agricultural Economics, August 1998, vol. 80 no. 3, pp. 455-465

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Related works:
Working Paper: Cvm-X: Calibrating Contingent Values with Experimental Auction Markets (2003)
Journal Article: CVM-X: Calibrating Contingent Values with Experimental Auction Markets (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:1311

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