An Experimental Validation of Hypothetical WTP for a Recyclable Product

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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Year of publication:	2004
Authors:	Camacho-Cuena, Eva ; García-Gallego, Aurora ; Georgantzís, Nikolaos ; Sabater-Grande, Gerardo
Published in:	Environmental & Resource Economics. - European Association of Environmental and Resource Economists, ISSN 0924-6460. - Vol. 27.2004, 3, p. 313-335
Publisher:	European Association of Environmental and Resource Economists
Subject:	contingent valuation \| laboratory experiments \| product design \| product recyclability \| vertical differentiation \| willingness to pay

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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