Buying Time: Real and Hypothetical Offers

This paper 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 responses to real and hypothetical offers to survey respondents 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 indicate the size of the offer and income were significant determinants of respondents' decisions, and these models were not significantly different between real and hypothetical offers.


Issue Date:
1996
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/10719
Total Pages:
37
JEL Codes:
C93; D12; Q2
Series Statement:
Discussion Paper 97-09




 Record created 2017-04-01, last modified 2017-08-23

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