The treatment of the opportunity cost of travel time in travel cost models has been an area of research interest for many decades. This analysis develops a methodology to combine the travel distance and travel time data with respondent-specific estimates of the value of travel time savings. The...

The paper investigates spatial heterogeneity of the public’s preferences for the implementation of a new country-wide forest management and protection program in Poland. Spatial econometric methods and high resolution geographical information system (GIS) data related to forest characteristics...

The assumption of the stability of preferences is a fundamental one in the theory of the consumer. Many papers within the stated preferences literature have tested this assumption, and have found mixed results. Individuals may become more sure of their preferences as they repeat a valuation task...

Using multiple choice tasks per respondent in discrete choice experiment studies increase the amount of available information. However, treating repeated choice data in the same way as cross-sectional data may lead to biased estimates. In particular, respondents’ learning and fatigue may lead...

The paper looks at people’s preferences for the changes in selected ecosystem services resulting from new management strategies of forest areas in Poland. It applies a generalized multinomial logit (G-MNL) model to interpret the results of a discrete choice experiment (DCE) study administered...

We report a laboratory experiment aimed at investigating factors affecting choice between different versions of a full-length movie. In particular, we estimate the willingness to pay for a legal, rather than pirated copy and compare it to the impact of such characteristics as picture quality or...

We use a novel field experiment which jointly tests two implicit assumptions of updating models in a joint framework: that new information leads to new knowledge and that new knowledge can affect economic decisions. In the experiment, we elicit subjects’ prior knowledge state about a good’s...

The contingent valuation (CV) method uses respondents’ stated choices made in hypothetical situations to infer their preferences for environmental public goods. It enables the general public’s preferences to be stated in monetary terms and hence to estimate the economic value of a change in...

This paper tests whether changes in “incidental emotions” lead to changes in economic choices. Incidental emotions are experienced at the time of an economic decision but are not part of the payoff from a particular choice. As such, the standard economic model predicts that incidental...

This paper explores both theoretically and empirically whether or not the willingness to pay (WTP) for pollution control varies with income. Our model indicates that the income elasticity of the marginal WTP for pollution reduction is only constant under very restrictive conditions, which are...