Cvm-X: Calibrating Contingent Values with Experimental Auction Markets

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  • 1 January 2003
    • preprint
      • Published in RePEc
Abstract
We design and implement a method, CVM-X, to calibrate hypothetical survey values using experimental auction markets. We test the procedure using consumer willingness-to-pay for irradiated/nonirradiated meat. Our results show that calibration factors for those who favor the irradiation process (0.67-0.69) are less severe than for those with an initial dislike of the process (0.55-0.59), suggesting that calibration may be commodity specific. (This abstract was borrowed from another version of this item.)

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