An Experimental Validation of Hypothetical WTP for a Recyclable Product
Environmental and Resource EconomicsPublished 26 February 2004
Eva Camacho-Cuena, Aurora Garcı́a-Gallego, Nikolaos Georgantzı́s, Gerardo Sabater‐Grande
Citations61
SJR quartileQ1
SJR score1.38
SNIP1.21
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Abstract
Using a within-subject experiment, we compare hypothetical andreal willingness to pay (WTP) for an improvement in therecyclability of a product. Subjects are faced with a real paymentscenario after they have responded to a hypothetical question.Contrary to most of the results obtained in similar studies, at apopulation level, there are no significant median differencesbetween actual and hypothetical stated values of WTP. However, within-subject comparisons between hypothetical and actual valuesindicate that subjects stating a low (high) hypothetical WTP tendto underestimate (overestimate) the value of their actualcontributions. Copyright Kluwer Academic Publishers 2004
Keywords
Social SciencesDecision SciencesEconomics, Econometrics and Finance
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