Testing convergent validity in choice experiments: application to public recreation in Spanish Stone pine and Cork oak forests

Jose Oviedo, Alejandro Caparrós, Itziar Ruiz-Gauna and Pablo Campos

No 1504, Working Papers from Instituto de Políticas y Bienes Públicos (IPP), CSIC

Abstract: We perform two convergent validity tests in a choice experiment applied to public recreation in Stone pine and Cork oak forests in Spain. We compare choice and ranking recoded as a choice in an experiment with three alternatives plus status quo. Our results show convergent validity for both structural models and willingness to pay estimates. The same experiment includes two payment-vehicles, an entrance-fee to access the forest and an increase in trip-expenditures due to an increase in gas prices, simultaneously in the choice sets. We obtain significant differences in willingness to pay values, which are 2.6-2.7 times higher when using the latter. Our empirical results present compensating variations and the (simulated) exchange value that the forest owner would obtain if a payment system for accessing these forests were established. The latter values fall below the former ones.

Keywords: Compensating variation; exchange value; non-market values; stated preferences (search for similar items in EconPapers)
JEL-codes: Q26 Q51 Q56 (search for similar items in EconPapers)
Date: 2015-06
New Economics Papers: this item is included in nep-agr and nep-env
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Journal Article: Testing convergent validity in choice experiments: Application to public recreation in Spanish stone pine and cork oak forests (2016)
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