CVM-X: Calibrating contingent values with experimental auction markets

John Fox, Jason F. Shogren, Dermot J. Hayes, James B. Kliebenstein

Research output: Contribution to journalArticlepeer-review


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.

Original languageEnglish (US)
Pages (from-to)455-465
Number of pages11
JournalAmerican Journal of Agricultural Economics
Issue number3
StatePublished - Aug 1998
Externally publishedYes


  • Auctions
  • CVM-X
  • Calibration
  • Irradiated meat
  • Valuation

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics


Dive into the research topics of 'CVM-X: Calibrating contingent values with experimental auction markets'. Together they form a unique fingerprint.

Cite this