An Experimental Test of Response Consistency in Cvm

LINEEX Working Paper No. 25/01

34 Pages Posted: 14 Sep 2001

See all articles by Gerardo Sabater

Gerardo Sabater

LINEEX and University Jaume I of Castellon

Nikolaos Georgantzis

LINEEX and University Jaume I of Castellon; Laboratori d'Economia Experimental (LEE)

Aurora García-Gallego

Universitat Jaume I

Eva Camacho

LINEEX and University Jaume I of Castellon

Abstract

Using experimental methods, we study the reliability of responses received from CVM. We compare declared willingness to pay (WTP) for an improvement in the ecological performance of a piece of furniture with behavior in an experimental environment which replicates the hypothetical scenario of the questionnaire. Results show no signifficant median differences between declared (in the questionnaire) and revealed (in the experiment) WTP. However, evidence of overdeclaration (underdeclaration) is obtained for subjects whose declared WTP is high (low).

Keywords: experimental economics, willingness to pay, product recyclability, contingent valuation methods

Suggested Citation

Sabater Grande, Gerardo Vicente and Georgantzis, Nikolaos and Georgantzis, Nikolaos and García-Gallego, Aurora and Camacho, Eva, An Experimental Test of Response Consistency in Cvm. LINEEX Working Paper No. 25/01, Available at SSRN: https://ssrn.com/abstract=283182 or http://dx.doi.org/10.2139/ssrn.283182

Gerardo Vicente Sabater Grande (Contact Author)

LINEEX and University Jaume I of Castellon ( email )

Campus Riu Sec
Department of Economics
12080 Castellon
Spain

Nikolaos Georgantzis

LINEEX and University Jaume I of Castellon ( email )

Department of Economics
Campus Riu Sec
12080 Castellon
Spain
+34 964 728588 (Phone)
+34 964 728591 (Fax)

Laboratori d'Economia Experimental (LEE) ( email )

Campus Riu Sec
Castellón, 12071
Spain
0034964729212 (Phone)
0034964728591 (Fax)

HOME PAGE: www.lee.uji.es

Aurora García-Gallego

Universitat Jaume I ( email )

Campus del Riu Sec
Castellón, 12071
Spain

Eva Camacho

LINEEX and University Jaume I of Castellon

Campus Riu Sec
Dept. of Economics
12080 Castellon
Spain

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