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Willingness to Pay and the Cost of Commitment: An Empirical Specification and Test

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Author Info

  • Jay Corrigan

    ()

  • Catherine Kling

    ()

  • Jinhua Zhao

    ()

Abstract

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File URL: http://hdl.handle.net/10.1007/s10640-007-9153-0
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Bibliographic Info

Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 40 (2008)
Issue (Month): 2 (June)
Pages: 285-298

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Handle: RePEc:kap:enreec:v:40:y:2008:i:2:p:285-298

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Web page: http://www.springerlink.com/link.asp?id=100263

Related research

Keywords: Commitment cost; Contigent valuation; Option value; Willingness to pay; Q26; C42; D60;

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References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Jinhua Zhao & Catherine L. Kling, 2004. "Willingness to Pay, Compensating Variation, and the Cost of Commitment," Economic Inquiry, Western Economic Association International, vol. 42(3), pages 503-517, July.
  2. Catherine L. Kling & John A. List & Jinhua Zhao, 2003. "WTP/WTA Disparity: Have We Been Observing Dynamic Values but Interpreting Them as Static?, The," Center for Agricultural and Rural Development (CARD) Publications 03-wp333, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  3. Carson, Richard T. & Hanemann, W. Michael & Kopp, Raymond J. & Krosnick, Jon A. & Mitchell, Robert C. & Presser, Stanley & Ruud, Paul A. & Smith, V. Kerry, 1995. "Temporal Reliability of Estimates from Contingent Valuation," Working Papers 95-05, Duke University, Department of Economics.
  4. Jay R. Corrigan, 2005. "Is the Experimental Auction a Dynamic Market?," Working Papers 0501, Kenyon College, Department of Economics.
  5. Jayson L. Lusk, 2003. "An Experimental Test of the Commitment Cost Theory," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(5), pages 1316-1322.
  6. Richard T. Carson & W. Michael Hanemann & Raymond J. Kopp & Jon A. Krosnick & Robert Cameron Mitchell & Stanley Presser, 1998. "Referendum Design and Contingent Valuation: The NOAA Panel's No-Vote Recommendation," The Review of Economics and Statistics, MIT Press, vol. 80(2), pages 335-338, May.
  7. Zhao, Jinhua & Kling, Catherine L., 2001. "A new explanation for the WTP/WTA disparity," Economics Letters, Elsevier, vol. 73(3), pages 293-300, December.
  8. Timothy Park & John B. Loomis & Michael Creel, 1991. "Confidence Intervals for Evaluating Benefits Estimates from Dichotomous Choice Contingent Valuation Studies," Land Economics, University of Wisconsin Press, vol. 67(1), pages 64-73.
  9. Hanemann, W. Michael, 1989. "Information and the concept of option value," Journal of Environmental Economics and Management, Elsevier, vol. 16(1), pages 23-37, January.
  10. Horowitz, John K. & McConnell, Kenneth E., 2002. "A Review of WTA/WTP Studies," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 426-447, November.
  11. Karl C. Samples & John A. Dixon & KMarcia M. Gowen, 1986. "Information Disclosure and Endangered Species Valuation," Land Economics, University of Wisconsin Press, vol. 62(3), pages 306-312.
  12. Horowitz, John K. & McConnell, K. E., 2003. "Willingness to accept, willingness to pay and the income effect," Journal of Economic Behavior & Organization, Elsevier, vol. 51(4), pages 537-545, August.
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Citations

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Cited by:
  1. John K. Horowitz & Kenneth E. McConnell & James J. Murphy, 2012. "Behavioral Foundations of Environmental Economics and Valuation," Working Papers 2012-03, University of Alaska Anchorage, Department of Economics.
  2. Kr├╝ger, Niclas A. & Svensson, Mikael, 2009. "The impact of real options on willingness to pay for mortality risk reductions," Journal of Health Economics, Elsevier, vol. 28(3), pages 563-569, May.
  3. Zhang, Jing & Steiner, Bodo E., 2010. "A Choice-Experiment Based Analysis Of Protection Motivation Theory: Health Related Behavior Of Consumers With Celiac Disease," 115th Joint EAAE/AAEA Seminar, September 15-17, 2010, Freising-Weihenstephan, Germany 116454, European Association of Agricultural Economists & Agricultural and Applied Economics Association.
  4. Elisabetta Strazzera & Elisabetta Cherchi & Silvia Ferrini, 2008. "A Choice Modelling Approach for Assessment of Use and Quasi-Option Values in Urban Planning for Areas of Environmental Interest," Working Papers 2008.63, Fondazione Eni Enrico Mattei.

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