CVM‐X: Calibrating Contingent Values with Experimental Auction Markets
- 1 August 1998
- journal article
- Published by Wiley in American Journal of Agricultural Economics
- Vol. 80 (3) , 455-465
- https://doi.org/10.2307/1244548
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.Keywords
All Related Versions
This publication has 0 references indexed in Scilit: