Cvm-X: Calibrating Contingent Values with Experimental Auction Markets
We design and implement a method, CVM-X, to calibrate hypothetical survey values using experimental auction markets. We test the procedure using consumer willingness-to-pay for irradiated/nonirradiated meat. Our results show that calibration factors for those who favor the irradiation process (0.67-0.69) are less severe than for those with an initial dislike of the process (0.55-0.59), suggesting that calibration may be commodity specific.
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|Date of creation:||01 Aug 1998|
|Date of revision:|
|Publication status:||Published in American Journal of Agricultural Economics, August 1998, vol. 80 no. 3, pp. 455-465|
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