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Versorgungssicherheit mit Strom: Empirische Evidenz auf Basis der Inferred-Valuation-Methode

Author

Listed:
  • Frondel, Manuel
  • Sommer, Stephan
  • Tomberg, Lukas
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.

Suggested Citation

  • Frondel, Manuel & Sommer, Stephan & Tomberg, Lukas, 2019. "Versorgungssicherheit mit Strom: Empirische Evidenz auf Basis der Inferred-Valuation-Methode," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 68(1), pages 53-73.
    • Handle: RePEc:zbw:espost:225244
    DOI: 10.1515/zfwp-2019-2002
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    as
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    More about this item

    Keywords

    Contingent Valuation Method; Hypothetical Bias;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices

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