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Multivariate Mixed Models for Open-Ended Contingent Valuation Data: Willingness To Pay For Conservation of Monk Seals

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Author Info

  • Ian Langford*
  • Areti Kontogianni
  • Mihalis Skourtos
  • Stavros Georgiou
  • Ian Bateman

Abstract

Although dichotomous choice (DC) contingent valuation (CV) has been recommended by the US NOAA 'blue-ribbon' panel for large-scale contingent valuation studies, useful information can still be obtained from smaller, open-ended (OE) studies, often undertaken as a precursor to a DC survey. The CV study considered here was carried out in Greece and looked at willingness-to-pay (WTP) for protecting the Mediterranean monk seal (Monachus-monachus) in the Aegean area. This is the most endangered seal in the world, and the application of the CV methodology was the first such application in Greece. The OE data consist of two responses: first, a binary response detailing whether or not respondents were in principle prepared to pay for the protection of this seal; secondly, those respondents who answered 'yes' to the first question were then asked to state their maximum WTP for such protection. A multivariate binomial – log-normal mixture model is used to develop a bid function including explanatory variables such as income, sex, age and education. Such a modelling approach provides an alternative to more commonplace tobit estimation. However, the model is extended to include further information which was collected on: (a) an increased WTP amount given in response to information that the initial WTP amount may not be enough to prevent the extinction of the seal; (b) respondents were asked to divide their final WTP amount between use, option and existence values, the latter requiring a multivariate model with four binary and four continuous responses per individual in the same model. The discussion focuses on the methodological issues raised with some comment on the substantive interpretation of results. Copyright Kluwer Academic Publishers 1998

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Bibliographic Info

Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 12 (1998)
Issue (Month): 4 (December)
Pages: 443-456

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Handle: RePEc:kap:enreec:v:12:y:1998:i:4:p:443-456

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Web page: http://www.springerlink.com/link.asp?id=100263

Related research

Keywords: contingent valuation; willingness-to-pay; open-ended data; multivariate mixed discrete-continuous models;

References

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  1. Langford, Ian H. & Bateman, Ian J., 1996. "Elicitation and truncation effects in contingent valuation studies," Ecological Economics, Elsevier, vol. 19(3), pages 265-267, December.
  2. Ian Langford & Ian Bateman & Hugh Langford, 1996. "A multilevel modelling approach to triple-bounded dichotomous choice contingent valuation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 7(3), pages 197-211, April.
  3. Carson, Richard T. & Hanemann, W. Michael, 2006. "Contingent Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 17, pages 821-936 Elsevier.
  4. James Tobin, 1956. "Estimation of Relationships for Limited Dependent Variables," Cowles Foundation Discussion Papers 3R, Cowles Foundation for Research in Economics, Yale University.
  5. Ian H. Langford & Ian J. Bateman & Andrew P. Jones & Hugh D. Langford & Stavros Georgiou, 1998. "Improved Estimation of Willingness to Pay in Dichotomous Choice Contingent Valuation Studies," Land Economics, University of Wisconsin Press, vol. 74(1), pages 65-75.
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Citations

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Cited by:
  1. Martinez-Espineira, Roberto, 2006. "A Box-Cox Double-Hurdle model of wildlife valuation: The citizen's perspective," Ecological Economics, Elsevier, vol. 58(1), pages 192-208, June.
  2. Halkos, George, 2012. "Assessing the economic value of protecting artificial lakes," MPRA Paper 39557, University Library of Munich, Germany.
  3. Halkos, George, 2013. "The relationship between people’s attitude and willingness to pay for river conservation," MPRA Paper 50560, University Library of Munich, Germany.
  4. Rolfe, John & Windle, Jill, 2005. "Valuing options for reserve water in the Fitzroy Basin," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), March.
  5. Karen Mayor & Susan Scott & Richard S.J. Tol, 2007. "Comparing the Travel Cost Method and the Contingent Valuation Method ? An application of Convergent Validity Theory to the Recreational Value of Irish Forests," Papers WP190, Economic and Social Research Institute (ESRI).
  6. Michielsen, T.O., 2013. "Environmental Catastrophes Under Time-inconsistent Preferences," Discussion Paper 2013-013, Tilburg University, Center for Economic Research.
  7. Schlapfer, Felix, 2006. "Survey protocol and income effects in the contingent valuation of public goods: A meta-analysis," Ecological Economics, Elsevier, vol. 57(3), pages 415-429, May.
  8. Thomas Michielsen, 2013. "Environmental Catastrophes under Time-Inconsistent Preferences," Working Papers 2013.55, Fondazione Eni Enrico Mattei.
  9. Stephen Hynes & Nick Hanley, 2008. "Rare Species Conservation on Irish Farmland: Benefits and Costs," Working Papers 0813, Rural Economy and Development Programme,Teagasc.
  10. Andrew Mill, Greig & van Rensburg, Tom M. & Hynes, Stephen & Dooley, Conor, 2007. "Preferences for multiple use forest management in Ireland: Citizen and consumer perpectives," Ecological Economics, Elsevier, vol. 60(3), pages 642-653, January.
  11. Cathal Buckley & Stephen Hynes & Tom van Rensburg & Edel Doherty, 2008. "Access to farmland for walking in the Republic of Ireland – The attitude of landowners," Working Papers 0814, Rural Economy and Development Programme,Teagasc.
  12. Peter Howley & Edel Doherty & Cathal Buckley & Stephen Hynes & Tom van Rensburg & Stuart Green, 2010. "Public access to the countryside: An exploration of the costs and benefits of farmland walking trails," Working Papers 1006, Rural Economy and Development Programme,Teagasc.
  13. Halkos, George & Matsiori, Steriani, 2012. "Determinants of willingness to pay for coastal zone quality improvement," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(4), pages 391-399.
  14. Ressurreição, Adriana & Gibbons, James & Dentinho, Tomaz Ponce & Kaiser, Michel & Santos, Ricardo S. & Edwards-Jones, Gareth, 2011. "Economic valuation of species loss in the open sea," Ecological Economics, Elsevier, vol. 70(4), pages 729-739, February.
  15. Hanley, Nicholas & Hynes, Stephen, 2008. "The "Crex crex" Lament: Estimating Landowners Willingness to Pay for Corncrake Conservation on Irish Farmland," Stirling Economics Discussion Papers 2008-14, University of Stirling, Division of Economics.
  16. Ojea, Elena & Loureiro, Maria L., 2011. "Identifying the scope effect on a meta-analysis of biodiversity valuation studies," Resource and Energy Economics, Elsevier, vol. 33(3), pages 706-724, September.
  17. Halkos, George, 2011. "Economic valuation of coastal zone quality improvements," MPRA Paper 35395, University Library of Munich, Germany.
  18. Paulo A.L.D. Nunes & Helen Ding & Anil Markandya, 2009. "The Economic Valuation of Marine Ecosystems," Working Papers 2009.68, Fondazione Eni Enrico Mattei.

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