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Commodity prices as payment vehicles in valuation experiments

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  • Per-Olov Johansson

Abstract

Many contingent valuation experiments use commodity prices as the payment vehicle. In this note it is shown, in general, that this approach does not allow the investigator to extract the respondent's willingness to pay. However, it is also shown how the valuation question can be formulated so as to yield a commodity price payment vehicle which is equivalent to a lump sum payment. Copyright Kluwer Academic Publishers 1996

Suggested Citation

  • Per-Olov Johansson, 1996. "Commodity prices as payment vehicles in valuation experiments," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 8(2), pages 247-254, September.
    • Handle: RePEc:kap:enreec:v:8:y:1996:i:2:p:247-254
    DOI: 10.1007/BF00357366
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    References listed on IDEAS

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    1. Bockstael, N E & McConnell, K E, 1993. "Public Goods as Characteristics of Non-market Commodities," Economic Journal, Royal Economic Society, vol. 103(420), pages 1244-1257, September.
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    2. Stenger, Anne, 2000. "Experimental valuation of food safety: Application to sewage sludge," Food Policy, Elsevier, vol. 25(2), pages 211-218, April.
    3. Gildas Appéré & Muriel Travers, 2021. "The sum of all the fears: the role of attitude towards health and environmental risks in the WTP a premium for organic foods [La somme de toutes les peurs : le rôle de l'attitude face aux risques s," Working Papers hal-03250688, HAL.
    4. Soliño, Mario & Prada, Albino & Vázquez, María X., 2010. "Designing a forest-energy policy to reduce forest fires in Galicia (Spain): A contingent valuation application," Journal of Forest Economics, Elsevier, vol. 16(3), pages 217-233, August.

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