Eliciting Willingness to Pay Without Bias: Evidence from A Field Experiment  

Oleh:

Blumenschein, Karen ; Blomquist, Glenn C. ; Johannesson, Magnus ; Horn, Nancy ; Freeman, Patricia

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 118 no. 525 (Jan. 2008), page 114-137.
Topik: Eliciting Willingness; Hypothetical Bias; Evidence; Contingent Valuation
Fulltext: 114.pdf (198.37KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.27 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Concern exists that hypothetical willingness to pay questions overestimate real willingness to pay. In a field experiment, we compare two methods of removing hypothetical bias, a cheap talk approach and contingent valuation. Contingent valuation with certainty statements removes the hypothetical bias, but the cheap talk approach has no significant impact. Our findings suggest that willingness to pay can be accurately estimated by adding a simple follow-up question about the certainty of responses and that cheap talk is not a generally effective approach.

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