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Semi-parametric discrete choice measures of willingness to pay

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Author Info

  • Huang, Ju-Chin
  • Nychka, Douglas W.
  • Smith, V. Kerry

Abstract

A semi-parametric discrete choice method is proposed to recover welfare measures from individual choice data. The proposed method is compared with the traditional binary choice models in an application to measure benefits of recreation trips.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 101 (2008)
Issue (Month): 1 (October)
Pages: 91-94

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Handle: RePEc:eee:ecolet:v:101:y:2008:i:1:p:91-94

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Discrete choice methods Non-parametric regression Willingness to pay Cubic smoothing splines;

References

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  1. Manski, Charles F. & Thompson, T. Scott, 1986. "Operational characteristics of maximum score estimation," Journal of Econometrics, Elsevier, vol. 32(1), pages 85-108, June.
  2. Creel, Michael & Loomis, John, 1997. "Semi-nonparametric Distribution-Free Dichotomous Choice Contingent Valuation," Journal of Environmental Economics and Management, Elsevier, vol. 32(3), pages 341-358, March.
  3. Smith, V. Kerry & Kaoru, Yoshiaki, 1986. "Modeling recreation demand within a random utility framework," Economics Letters, Elsevier, vol. 22(4), pages 395-399.
  4. Horowitz, Joel L, 1992. "A Smoothed Maximum Score Estimator for the Binary Response Model," Econometrica, Econometric Society, vol. 60(3), pages 505-31, May.
  5. Klein, Roger W & Spady, Richard H, 1993. "An Efficient Semiparametric Estimator for Binary Response Models," Econometrica, Econometric Society, vol. 61(2), pages 387-421, March.
  6. Mark Yuying An, 2000. "A Semiparametric Distribution for Willingness to Pay and Statistical Inference with Dichotomous Choice Contingent Valuation Data," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 487-500.
  7. Cooper, Joseph C., 2002. "Flexible Functional Form Estimation of Willingness to Pay Using Dichotomous Choice Data," Journal of Environmental Economics and Management, Elsevier, vol. 43(2), pages 267-279, March.
  8. Chen, Heng Z. & Randall, Alan, 1997. "Semi-nonparametric estimation of binary response models with an application to natural resource valuation," Journal of Econometrics, Elsevier, vol. 76(1-2), pages 323-340.
  9. Chuan-Zhong Li, 1996. "Semiparametric Estimation of the Binary Choice Model for Contingent Valuation," Land Economics, University of Wisconsin Press, vol. 72(4), pages 462-473.
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Citations

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Cited by:
  1. Marcella Veronesi & Anna Alberini & Joseph C. Cooper, 2005. "Detecting Starting Point Bias in Dichotomous-Choice Contingent Valuation Surveys," Working Papers 2005.119, Fondazione Eni Enrico Mattei.
  2. Halkos, George, 2012. "The use of contingent valuation in assessing marine and coastal ecosystems’ water quality: A review," MPRA Paper 42183, University Library of Munich, Germany.

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