Buying time: Real and hypothetical offers

V. Kerry Smith, Carol Mansfield

Research output: Contribution to journalArticle

40 Scopus citations

Abstract

This article provides the results of a field test of contingent valuation estimates within a willingness to accept framework. Using dichotomous choice questions in telephone-mail-telephone interviews, we compare survey respondents' responses to real and hypothetical offers for the opportunity to spend time in a second set of interviews on an undisclosed topic. Five hundred and forty people were randomly split between the real and hypothetical treatments. Our findings indicate no significant differences between people's choices with real and hypothetical offers. Choice models were not significantly different between real and hypothetical offers.

Original languageEnglish (US)
Pages (from-to)209-224
Number of pages16
JournalJournal of Environmental Economics and Management
Volume36
Issue number3
DOIs
StatePublished - Nov 1998

Keywords

  • Contingent value
  • Experiment
  • Real and hypothetical offer
  • Willingness to accept

ASJC Scopus subject areas

  • Economics and Econometrics
  • Management, Monitoring, Policy and Law

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