@article{3a05f268bb1149fbafbd6f35c30306c4,
title = "CVM-X: Calibrating contingent values with experimental auction markets",
abstract = "We design and implement a method, CVM-X, to calibrate hypothetical survey values using experimental auction markets. We test the procedure using consumer willingness-to-pay for irradiated/nonirradiated meat. Our results show that calibration factors for those who favor the irradiation process (0.67-0.69) are less severe than for those with an initial dislike of the process (0.55-0.59), suggesting that calibration may be commodity specific.",
keywords = "Auctions, CVM-X, Calibration, Irradiated meat, Valuation",
author = "John Fox and Shogren, {Jason F.} and Hayes, {Dermot J.} and Kliebenstein, {James B.}",
note = "Funding Information: This is contribution no. 95-470-J from the Kansas Agricultural Experiment Station. We acknowledge the financial support of the Food Safety Consortium and the National Science Foundation. Thanks to Bruce Babcock, Harold Baker, George Beran, Wayne Fuller, Toni Genalo, Glenn Harrison, Joe Herriges, Cathy Kling, Jordan Lin, John List, Dennis Olson, Tanya Roberts, Lisa Rutstr/3m, two reviewers, the editor, and seminar participants at the Economic Research Service (USDA), Harvard, Iowa State, Illinois, Joensuu, Penn State, Uppsala, and Ume~ for their comments. 'NOAA subsequently revised this proposal. The final version eliminates the need to calculate compensable values (NOAA 1996). Instead, valuation methods such as CVM would be used to determine only the appropriate scale of restorative actions rather than a monetary damage figure.",
year = "1998",
month = aug,
doi = "10.2307/1244548",
language = "English (US)",
volume = "80",
pages = "455--465",
journal = "American Journal of Agricultural Economics",
issn = "0002-9092",
publisher = "Oxford University Press",
number = "3",
}