Calibrating Hypothetical Willingness to Pay Responses.

B-Tier
Journal: Journal of Risk and Uncertainty
Year: 1999
Volume: 18
Issue: 1
Pages: 21-32

Authors (6)

Johannesson, Magnus (Stockholm School of Economics) Blomquist, Glenn C. (University of Kentucky) Blumenschein, Karen (not in RePEc) Johansson, Per-olov (not in RePEc) Liljas, Bengt (not in RePEc) O'Conor, Richard M. (not in RePEc)

Score contribution per author:

0.335 = (α=2.01 / 6 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Experimental data comparing hypothetical and real dichotomous choice responses for two different goods were used to estimate a statistical bias function to calibrate the hypothetical yes responses. The probability that a hypothetical yes response would be a real yes response was estimated as a function of the individual's self-assessed certainty of the hypothetical yes response (assessed on a 0-10 scale) and a variable representing the price level. Without calibration the hypothetical yes responses significantly exceeded the proportion of real yes responses, but after calibration the null hypothesis of no difference between hypothetical and real responses could not be rejected in any of the experiments. Copyright 1999 by Kluwer Academic Publishers

Technical Details

RePEc Handle
repec:kap:jrisku:v:18:y:1999:i:1:p:21-32
Journal Field
Theory
Author Count
6
Added to Database
2026-01-24