Loomis, John; Brown, Thomas; Lucero, Beatrice; … - In: Environmental & Resource Economics 10 (1997) 2, pp. 109-123
Hypothetical and actual cash willingness to pay (WTP) for an art print were elicited with dichotomous choice and open-ended question formats. Comparing hypothetical and actual dichotomous choice responses using both a likelihood ratio test and the method of convolutions suggests we reject...