Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/225244
Authors: 
Frondel, Manuel
Sommer, Stephan
Tomberg, Lukas
Year of Publication: 
2019
Citation: 
[Journal:] Zeitschrift für Wirtschaftspolitik [ISSN:] 2366-0317 [Volume:] 68 [Issue:] 1 [Pages:] 53-73
Abstract: 
Based on a survey among more than 5,000 German household heads, this article investigates their willingness to pay (WTP) for avoiding power outages using Contingent-Valuation-Methods (CVM). Alternatively, we ask respondents to estimate the WTP of a hypothetical household. This Inferred-Valuation-Method (IVM) is an approach introduced to reduce the hypothetical bias of stated WTP. Our empirical results indicate that, relative to the CVM, the IVM yields inflated WTP values, casting doubt on the validity of the IVM.
Subjects: 
Contingent Valuation Method
Hypothetical Bias
JEL: 
D12
H41
Q41
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Article
Document Version: 
Published Version

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