Contingent valuation method and the changeover to the euro: an empirical application
AbstractSeveral countries may adopt the euro in the near future. Whether the change of currency may lead to different responses in non-market valuation surveys remains an open question. A contingent valuation application was carried out shortly after the changeover to the euro in Spain, with half of the participants being assigned a payment card in euro and the other half in pesetas. Results show that higher amounts were stated in euro than in pesetas, which is consistent with the ?euro illusion? hypothesis, a phenomenon observed in experiments involving market goods, in which people have the tendency to bid higher amounts for the currency having a lower nominal value.
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Bibliographic InfoArticle provided by Armand Colin in its journal Revue d’Économie Régionale & Urbaine.
Volume (Year): Décembre (2010)
Issue (Month): 5 ()
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Web page: http://www.cairn.info/revue-d-economie-regionale-et-urbaine.htm
évaluation monétaire d'actifs environnementaux; méthode d'évaluationcontingente; euro illusion; environmental valuation; contingent valuation method; euro illusion;
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