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Market knowledge and declared preferences in the CVM (using wind power plants as an example)

Marcinkiewicz J., Poskrobko T.

Ekonomia i Środowisko

2017

nr 4

118--131

The article attempts to assess the impact of the factor related to the knowledge of the real estate market on the declared preferences in the CVM. A set of factors widely described in the literature, potentially affecting the outcomes of the frame experiment (such as gender, education, social status) has been enriched with the factor related to market knowledge. The research was conducted on a group of 1,200 people by the CATI method in 2015. Due to the level of knowledge of the market, respondents were divided into four groups. Measures determining the degree of dependence of features (market knowledge and WTP declarations) were used: independence tests, medium difference tests (ANOVA). It was found that knowledge of the market determines the willingness to pay (WTP). Knowledge of the market is an important factor affecting the discrepancies between the respondents' declarations to pay for the good valued. Therefore, meteorological indications for conducting CVM studies should be enriched by considering this circumstance.