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Paying For A Public Good In Money Or Time: Is There A Fundamental Difference? An Investigation Of Consumers' Preferences For Community-Wide Recycling

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  • Kipperberg, Gorm
  • Larson, Douglas M.

Abstract

This paper investigates consumers willingness to pay money (WTPM) and willingness to pay time (WTPT) for an improvement in a public good. Joint estimation of WTPM, WTPT, and the value of time, in the context of an increase in community-wide recycling, suggests that consumers have a higher money-equivalent WTP when they are directly involved in the provision of the public good, through their time effort. We conclude that the "payment currency" matters. This may have important implications for the design and promotion of public programs aimed at producing improved public good provision.

Suggested Citation

  • Kipperberg, Gorm & Larson, Douglas M., 2005. "Paying For A Public Good In Money Or Time: Is There A Fundamental Difference? An Investigation Of Consumers' Preferences For Community-Wide Recycling," 2005 Annual meeting, July 24-27, Providence, RI 19223, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea05:19223
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    References listed on IDEAS

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    1. Nyborg, Karine & Rege, Mari, 2003. "Does Public Policy Crowd Out Private Contributions to Public Goods," Public Choice, Springer, vol. 115(3-4), pages 397-418, June.
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    3. Andreoni, James, 1990. "Impure Altruism and Donations to Public Goods: A Theory of Warm-Glow Giving?," Economic Journal, Royal Economic Society, vol. 100(401), pages 464-477, June.
    4. Douglas M. Larson & Sabina L. Shaikh, 2001. "Empirical Specification Requirements for Two-Constraint Models of Recreation Choice," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 428-440.
    5. George A. Akerlof & Rachel E. Kranton, 2000. "Economics and Identity," The Quarterly Journal of Economics, Oxford University Press, vol. 115(3), pages 715-753.
    6. Douglas M. Larson & Sabina L. Shaikh & DavidF. Layton, 2004. "Revealing Preferences for Leisure Time from Stated Preference Data," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(2), pages 307-320.
    7. Brekke, Kjell Arne & Kverndokk, Snorre & Nyborg, Karine, 2003. "An economic model of moral motivation," Journal of Public Economics, Elsevier, vol. 87(9-10), pages 1967-1983, September.
    8. Hollander, Heinz, 1990. "A Social Exchange Approach to Voluntary Cooperation," American Economic Review, American Economic Association, vol. 80(5), pages 1157-1167, December.
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    Keywords

    Public Economics;

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