Stated preference techniques have been used to place values on public goods by directly asking individuals to provide their personal values and opinions. This method has consistently resulted in the emergence of hypothetical bias. Several insights from the psychology literature suggest that...

We use hedonic prices and purchase quantities to consider what can be learned about household willingness to pay for baskets of organic products and how this varies across households. We use rich scanner data on food purchases by a large number of households to compute household specific lower...

Since the 70s, an increasing number of studies investigating environmental preferences have been made. However, papers related to a country and its regions or its development over time are still largely lacking, although it is a promising line to search empirically for factors that have been...

We obtain confidence intervals for willingness-to-pay (WTP) measures derived from a mode choice model estimated to analyse travel demand for suburban trips in the two main interurban corridors in Gran Canaria using a mixed RP/SP data base. We considered a specification of the systematic utility...

In a static setting, willingness to pay for an environmental improvement is equal to compensating variation. However, in a dynamic setting characterized by uncertainty, irreversibility, and the potential for learning, willingness to pay may also contain an option value. In this paper, we...

This study advances, and experimentally tests, a new explanation for the disparity between willingness to pay (WTP) and willingness to accept (WTA)—a dynamic neoclassical theory based on the presence of commitment costs. While to date neoclassical models have not explained the observed...

Organic producers have limited methods of avoiding plant diseases that result in cosmetic damage to produce. Therefore, the appearance of organic produce is often less than perfect. We use an experimental auction to investigate how cosmetic damage affects consumers' willingness to pay for...

In a highly competitive environment a product’s commercial success depends increasingly more upon the ability to satisfy consumers’ preferences that are highly diversified. Since a consumer product typically comprises a host of technological attributes, its market value incorporates all of...

The textile industry is inherently unsustainable, has a wide range of environmental and toxicological impacts and has been condemned as one of the worst offenders on earth in terms of pollution. The textile industry in India has largely been driven by small units which practice age-old methods...

This paper provides an economic valuation of the coral reefs at Phi Phi Islands, Thailand. It used both the travel cost method and contingent valuation method to estimate the benefits of tourism on Phi Phi's coral reefs. The study found that the reefs studied could generate large economic...