Is expressed WTP consistent with welfare economics? A response from 73 cognitive interviews
Contingent valuation is based on the hypothesis that people are able to estimate an improvement of their well-being in terms of income reduction and that the value they give can be assimilated to a price. To test this assumption we ran 73 in-depth interviews with persons suffering from air pollution. Most of the persons express a lump sum. Only 12 % of the persons with a positive WTP are able to construct a value in terms of opportunity costs and increase in quality of life. It is easier to express a lump sum than to try to build a "price" because the cognitive exercise is simpler.
Year of publication: |
2001
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Authors: | Desaigues, Brigitte |
Published in: |
Swiss Journal of Economics and Statistics (SJES). - Schweizerische Gesellschaft für Volkswirtschaft und Statistik / Société Suisse d"Économie et de Statistique - SGVS/SSES, ISSN 0303-9692. - Vol. 137.2001, I, p. 35-47
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Publisher: |
Schweizerische Gesellschaft für Volkswirtschaft und Statistik / Société Suisse d"Économie et de Statistique - SGVS/SSES |
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