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An Experimental Validation of Hypothetical WTP for a Recyclable Product

  • Eva Camacho-Cuena
  • Aurora García-Gallego
  • Nikolaos Georgantzís
  • Gerardo Sabater-Grande

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Using a within-subject experiment, we compare hypothetical andreal willingness to pay (WTP) for an improvement in therecyclability of a product. Subjects are faced with a real paymentscenario after they have responded to a hypothetical question.Contrary to most of the results obtained in similar studies, at apopulation level, there are no significant median differencesbetween actual and hypothetical stated values of WTP. However,within-subject comparisons between hypothetical and actual valuesindicate that subjects stating a low (high) hypothetical WTP tendto underestimate (overestimate) the value of their actualcontributions. Copyright Kluwer Academic Publishers 2004

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

Volume (Year): 27 (2004)
Issue (Month): 3 (March)
Pages: 313-335

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Handle: RePEc:kap:enreec:v:27:y:2004:i:3:p:313-335
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