Abstract

An individual's rate-of-time-preference is an important consideration for individuals deciding whether to support a public good, since the benefits of a public good often come in the future. Our study finds individual discount rates from a contingent valuation method (CVM) question where the time frame of the payment schedule is varied across surveys. We find discount rates similar to the rates found in the recent revealed preference and experimental literature of around 30%. Our CVM question addresses the preservation of additional open space adjacent to a large regional park at the urban fringe of Portland, Oregon.

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Additional Information

ISSN
1543-8325
Print ISSN
0023-7639
Pages
pp. 209-224
Launched on MUSE
2012-04-04
Open Access
No
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