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Commodity prices as payment vehicles in valuation experiments

✍ Scribed by Per-Olov Johansson

Publisher: Springer
Year: 1996
Tongue: English
Weight: 449 KB
Volume: 8
Category: Article
ISSN: 0924-6460
DOI: 10.1007/bf00357366

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✦ Synopsis

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 mspondent'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.

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