THE CONTEXT FOR SUBSTITUTES IN CVM STUDIES - SOME EMPIRICAL OBSERVATIONS

The purpose of this paper is to report results from a set of experiments that provide data to test the NOAA [13] Panel recommendation that subjects be reminded of budgetary substitutes when providing values. The results suggest that simply reminding subjects of alternative environmental goods does not affect the distribution of values for a specific good. Such values are affected, however, whenever subjects simultaneously value alternative goods. (C) 1995 Academic Press, Inc.