Independent samples and paired responses of adults were used to test differences between hypothetical and actual willingness to pay (WTP) for an art print elicited using an open-ended WTP question. We attempted to overcome hypothesized reasons for divergences between cash and hypothetical WTP by...

Subjects valued environmental goods using a response mode expressing willingness to pay as a multiplier or divider of a purported "budgetary unit." Hypothetical willingness to pay was found to be highly dependent on the size of the budgetary unit. Rejecting two other interpretations, we believe...

The paired comparison (PC) method is used to investigate reliability, transitivity, and decision time for binary choices among goods and sums of money. The PC method reveals inconsistent choices and yields individual preference order over the set of items being compared. The data reported...