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Do students behave like adults? Evidence from valuation experiments

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  • Kelly Maguire
  • Laura Taylor
  • Shiferaw Gurmu

Abstract

The use of convenience samples in experimental economics has long been the standard practice. However, little evidence exists regarding behavioural differences between students and adults in contingent valuation experiments using a payment mechanism other than a referendum vote. Evidence is provided that students do in fact behave in a manner similar to adults using an open-ended willingness to pay payment question.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 10 (2003)
Issue (Month): 12 ()
Pages: 753-756

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Handle: RePEc:taf:apeclt:v:10:y:2003:i:12:p:753-756

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References

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  1. Smith, V. Kerry & Mansfield, Carol, 1996. "Buying Time: Real and Hypothetical Offers," Working Papers 96-04, Duke University, Department of Economics.
  2. Dyer, D. & Kagel, J.H. & Levin, D., 1988. "A Comparison Of Naive And Experienced Bidders In Common Value Offer Auctions A Laboratory Analysis," Papers 11, Houston - Department of Economics.
  3. Ronald G. Cummings & Laura Osborne Taylor, 1998. "Does Realism Matter in Contingent Valuation Surveys?," Land Economics, University of Wisconsin Press, vol. 74(2), pages 203-215.
  4. Taylor, Laura O., 1998. "Incentive Compatible Referenda And The Valuation Of Environmental Goods," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(2), October.
  5. P. Frykblom & Jason Shogren, 2000. "An Experimental Testing of Anchoring Effects in Discrete Choice Questions," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 16(3), pages 329-341, July.
  6. Harrison, Glenn W. & Lesley, James C., 1996. "Must Contingent Valuation Surveys Cost So Much?," Journal of Environmental Economics and Management, Elsevier, vol. 31(1), pages 79-95, July.
  7. Fox, John A. & Shogren, Jason F. & Hayes, Dermot J. & Kliebenstein, James, 1998. "Cvm-X: Calibrating Contingent Values with Experimental Auction Markets," Staff General Research Papers 1311, Iowa State University, Department of Economics.
  8. David Bjornstad & Ronald Cummings & Laura Osborne, 1997. "A Learning Design for Reducing Hypothetical Bias in the Contingent Valuation Method," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 10(3), pages 207-221, October.
  9. Gurmu, Shiferaw & Trivedi, Pravin K, 1996. "Excess Zeros in Count Models for Recreational Trips," Journal of Business & Economic Statistics, American Statistical Association, vol. 14(4), pages 469-77, October.
  10. Brown, Kelly M. & Taylor, Laura O., 2000. "Do as you say, say as you do: evidence on gender differences in actual and stated contributions to public goods," Journal of Economic Behavior & Organization, Elsevier, vol. 43(1), pages 127-139, September.
  11. Laura O. Taylor & Ronald G. Cummings, 1999. "Unbiased Value Estimates for Environmental Goods: A Cheap Talk Design for the Contingent Valuation Method," American Economic Review, American Economic Association, vol. 89(3), pages 649-665, June.
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Cited by:
  1. Czap, Natalia V. & Czap, Hans J. & Khachaturyan, Marianna & Lynne, Gary D. & Burbach, Mark, 2012. "Walking in the shoes of others: Experimental testing of dual-interest and empathy in environmental choice," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(5), pages 642-653.
  2. Czap, Natalia V. & Czap, Hans J., 2010. "An experimental investigation of revealed environmental concern," Ecological Economics, Elsevier, vol. 69(10), pages 2033-2041, August.
  3. Ovchinnikova, Natalia V. & Czap, Hans J. & Lynne, Gary D. & Larimer, Christopher W., 2009. ""I don't want to be selling my soul": Two experiments in environmental economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(2), pages 221-229, March.
  4. Czap, Hans J. & Czap, Natalia V., 2011. "Donating-selling tradeoffs and the influence of leaders in the environmental goods game," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(6), pages 743-752.
  5. Sebastian J. Goerg & Werner Güth & Gari Walkowitz & Torsten Weiland, 2007. "Interregional diversity of fairness concerns - An online ultimatum experiment," Jena Economic Research Papers 2007-016, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.

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