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Hypothetical, real, and predicted real willingness to pay in open-ended surveys: experimental results

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  • Anabela Botelho
  • Ligia Costa Pinto

Abstract

This study reports the results of experiments designed to elicit, within a controlled laboratory environment, hypothetical and real willingness to pay for an environmental educational programme using the open-ended question format. By maintaining both the good and the question format constant across the treatments, the experiments overcome the shortcomings of recently reported experimental results, providing a clean test for hypothetical bias in open-ended valuations. Having found a statistically significant difference between the hypothetical and real values, the question of whether hypothetical valuations may nonetheless provide useful statistical information concerning individuals' real valuations is turned to. This question, which is perhaps the key question in the current state of the debate surrounding the contingent valuation method, is answered affirmatively in this study.

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File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/13504850210148143&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
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Bibliographic Info

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

Volume (Year): 9 (2002)
Issue (Month): 15 ()
Pages: 993-996

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Handle: RePEc:taf:apeclt:v:9:y:2002:i:15:p:993-996

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References

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  1. Anabela Botelho & Lígia M. Costa Pinto & Isabel Rodrigues, 2005. "How To Comply With Environmental Regulations? The Role Of Information," Contemporary Economic Policy, Western Economic Association International, vol. 23(4), pages 568-577, October.
  2. Guimaraes, Paulo & Figueiredo, Octávio & Woodward, Douglas, 2002. "Modeling industrial location decisions in U.S. counties," ERSA conference papers ersa02p060, European Regional Science Association.
  3. Hartog, Joop & Zorlu, Aslan, 2002. "The Effect of Immigration on Wages in Three European Countries," IZA Discussion Papers 642, Institute for the Study of Labor (IZA).
  4. Anabela Botelho & Mark A. Hirsch & Elisabet E. Rutstrom, 2000. "Culture, nationality and demographics in ultimatum games," NIMA Working Papers 7, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  5. Octavio Figueiredo & Paulo Guimaraes & Douglas Woodward, 2001. "Asymmetric information and location," NIMA Working Papers 11, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  6. Paulo Guimaraes & Octavio Figueiredo & Douglas Woodward, 2000. "A tractable approach to the firm location decision problem," NIMA Working Papers 2, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  7. Miguel Portela, 2001. "The impact of segregation on wage inequality: a look at recruitment and pay policies at the firm level," NIMA Working Papers 8, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  8. Rosa Branca Esteves & Paulo Guimaraes, 2008. "Price Discrimination and Targeted Advertising: A Welfare Analysis," The IUP Journal of Applied Economics, IUP Publications, vol. 0(5), pages 41-47, September.
  9. Anabela Botelho & Ligia Costa Pinto & Miguel Portela & Antonio Silva, 2001. "The determinants of success in university entrance," NIMA Working Papers 13, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  10. Anabela Botelho & Ligia Costa Pinto, 2000. "Has Portugal gone wireless? Looking back, Looking ahead," NIMA Working Papers 5, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  11. Cardoso, Ana Rute & Ferreira, Priscila, 2002. "The Dynamics of Job Creation and Destruction for University Graduates: Why a Rising Unemployment Rate Can Be Misleading," IZA Discussion Papers 623, Institute for the Study of Labor (IZA).
  12. Cardoso, Ana Rute & Portugal, Pedro, 2001. "Disentangling the Minimum Wage Puzzle: An Analysis of Job Accessions and Separations from a Longitudinal Matched Employer-Employee Data Set," CEPR Discussion Papers 2844, C.E.P.R. Discussion Papers.
  13. Anabela Botelho & Glenn W. Harrison & Lígia Pinto & Elisabet E. Rutstrom, 2005. "Social norms and social choice," NIMA Working Papers 30, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  14. Paula Veiga & Ronald P. Wilder, 2006. "Maternal smoking during pregnancy and birthweight - A propensity score matching approach," NIMA Working Papers 32, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  15. Paula Veiga, 2005. "Income-related health inequality in Portugal," NIMA Working Papers 28, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  16. Botelho, Anabela & Harrison, Glenn W. & Pinto, Lígia M. Costa & Rutström, Elisabet E., 2009. "Testing static game theory with dynamic experiments: A case study of public goods," Games and Economic Behavior, Elsevier, vol. 67(1), pages 253-265.e3, September.
  17. Natália Barbosa, 2003. "What drives new firms into an industry? An integrative model of entry," NIMA Working Papers 23, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  18. Anabela Botelho & Glenn W. Harrison & Marc A. Hirsch & Elisabet E. Rutstrom, 2001. "Bargaining behavior, demographics and nationality: a reconsideration of the experimental evidence," NIMA Working Papers 16, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  19. Natália Barbosa & Helen Louri, 2003. "Corporate performance: does ownership matter? A comparison of foreign - and domestic - owned firms in Greece and Portugal," NIMA Working Papers 26, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  20. Aslan Zorlu, 2003. "Do ethnicity and sex matter in pay? Analyses of 8 ethnic groups in the Dutch labour market," NIMA Working Papers 21, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  21. Anabela Botelho & Glenn W. Harrison & Lígia Pinto & Elisabet E. Rutstrom & Paula Veiga, 2005. "Discounting in developing countries: a pilot experiment in Timor-Leste," NIMA Working Papers 31, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  22. Pedro P. Barros & Clara E. Dismuke, 2000. "Hospital production in a national health service: the physician's dilemma," NIMA Working Papers 6, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  23. Cécile Wetzels & Aslan Zorlu, 2003. "Wage effects of motherhood: a double selection approach," NIMA Working Papers 22, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
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Citations

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Cited by:
  1. Joseph Little & Robert Berrens, 2004. "Explaining Disparities between Actual and Hypothetical Stated Values: Further Investigation Using Meta-Analysis," Economics Bulletin, AccessEcon, vol. 3(6), pages 1-13.
  2. Anabela Botelho & Lígia Pinto, 2003. "Students' expectations of the economic returns to college education Results of a controlled experiment," NIMA Working Papers 27, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  3. repec:ebl:ecbull:v:3:y:2004:i:6:p:1-13 is not listed on IDEAS
  4. Cho, Seong-Hoon & Yen, Steven T. & Bowker, James Michael & Newman, David H., 2008. "Modeling Willingness to Pay for Land Conservation Easements: Treatment of Zero and Protest Bids and Application and Policy Implications," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(01), April.
  5. Collins, Alan R. & Rosenberger, Randall S., 2007. "Protest Adjustments in the Valuation of Watershed Restoration Using Payment Card Data," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 36(2), October.
  6. Murat Isik, 2006. "An experimental analysis of impacts of uncertainty and irreversibility on willingness-to-pay," Applied Economics Letters, Taylor & Francis Journals, vol. 13(2), pages 67-72.

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