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Contingent valuation method and the changeover to the euro: an empirical application

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  • Mahieu, Pierre-Alexandre
  • Riera, Pere

Abstract

Several 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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  • Mahieu, Pierre-Alexandre & Riera, Pere, 2012. "Contingent valuation method and the changeover to the euro: an empirical application," Revue d'économie régionale et urbaine, Editions NecPlus, vol. 2010(05), pages 987-1000, April.
    • Handle: RePEc:nec:rerurb:v:2010:y:2012:i:05:p:987-1000_00
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    File URL: http://www.necplus.eu/abstract_S0180730710005087
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    Cited by:

    1. Pierre-Alexandre Mahieu & Romain Craste & Bengt Kriström & Pere Riera, 2014. "Non-market valuation in France: An overview of the research activity," Working Papers hal-01087365, HAL.

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