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Using Random Parameters to Account for Heterogeneous Preferences in Contingent Valuation of Public Open Space

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Author Info

  • Nahuelhual, Laura
  • Loureiro, Maria L.
  • Loomis, John B.

Abstract

To test for preference heterogeneity in dichotomous choice contingent valuation responses, a random parameter logit (RPL) specification is used in this analysis. The RPL model confirms heterogeneity in respondents' preferences for protection of public open space, as reflected in statistically significant standard deviations of the normally distributed random parameters. Results show that while the majority of respondents indicate a positive willingness to pay (WTP), a minority of those surveyed report a negative WTP. Some of this variation in tastes remains even after individual characteristics and attitudinal variables are included in the model.

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Bibliographic Info

Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

Volume (Year): 29 (2004)
Issue (Month): 03 (December)
Pages:

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Handle: RePEc:ags:jlaare:30909

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Web page: http://waeaonline.org/
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Related research

Keywords: contingent valuation; open space; random parameter logit; willingness to pay; Land Economics/Use;

References

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  1. Heng Z. Chen & Stephen R. Cosslett, 1998. "Environmental Quality Preference and Benefit Estimation in Multinomial Probit Models: A Simulation Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(3), pages 512-520.
  2. Bengt Kristr�m, 1997. "Spike Models in Contingent Valuation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 1013-1023.
  3. Layton, David F., 2000. "Random Coefficient Models for Stated Preference Surveys," Journal of Environmental Economics and Management, Elsevier, vol. 40(1), pages 21-36, July.
  4. Clinch, J Peter & Murphy, Anthony, 2001. "Modelling Winners and Losers in Contingent Valuation of Public Goods: Appropriate Welfare Measures and Econometric Analysis," Economic Journal, Royal Economic Society, vol. 111(470), pages 420-43, April.
  5. Anni Huhtala, 2000. "Binary Choice Valuation Studies with Heteregeneous Preferences Regarding the Program Being Valued," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 16(3), pages 263-279, July.
  6. Louviere,Jordan J. & Hensher,David A. & Swait,Joffre D., 2000. "Stated Choice Methods," Cambridge Books, Cambridge University Press, number 9780521788304.
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Cited by:
  1. Jensen, Kimberly L. & Clark, Christopher D. & English, Burton C. & Menard, R. Jamey & Skahan, Denise K. & Marra, Adrienne C., 2010. "Willingness to pay for E85 from corn, switchgrass, and wood residues," Energy Economics, Elsevier, vol. 32(6), pages 1253-1262, November.
  2. Ortega, David L. & Wang, H. Holly & Widmar, Nicole J. Olynk & Wu, Laping, 2013. "Chinese Producer Behavior: Aquaculture Farmers in Southern China," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150520, Agricultural and Applied Economics Association.
  3. Teresa Kauf & Ateesha Mohamed & A. Hauber & Derek Fetzer & Atiya Ahmad, 2012. "Patients’ Willingness to Accept the Risks and Benefits of New Treatments for Chronic Hepatitis C Virus Infection," The Patient: Patient-Centered Outcomes Research, Springer, vol. 5(4), pages 265-278, December.
  4. Crastes, Romain & Beaumais, Olivier & Arkoun, Ouerdia & Laroutis, Dimitri & Mahieu, Pierre-Alexandre & Rulleau, Bénédicte & Hassani-Taibi, Salima & Barbu, Vladimir Stefan & Gaillard, David, 2014. "Erosive runoff events in the European Union: Using discrete choice experiment to assess the benefits of integrated management policies when preferences are heterogeneous," Ecological Economics, Elsevier, vol. 102(C), pages 105-112.

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