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Joint estimation of contingent valuation survey responses

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  • Timothy Park
  • John Loomis

Abstract

Hanemann's utility difference model for the dichotomous choice contingent valuation method is modified to account for interrelationships between responses to a set of contingent valuation questions. A nonlinear seemingly unrelated regression model is presented to jointly estimate the probit models and to derive WTP from the CV responses. The model is used to test and impose restrictions derived from economic theory on the utility difference model. Mean WTP estimates for three different types of changes in the quality of California deer hunting were uniformly lower for the joint response probit model compared to a set of independent probit models. Copyright Kluwer Academic Publishers 1996

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File URL: http://hdl.handle.net/10.1007/BF00699289
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Bibliographic Info

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

Volume (Year): 7 (1996)
Issue (Month): 2 (March)
Pages: 149-162

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Handle: RePEc:kap:enreec:v:7:y:1996:i:2:p:149-162

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

Related research

Keywords: Contingent valuation; utility difference model; joint dichotomous responses;

References

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  1. Chesher, Andrew, 1985. "Score tests for zero covariances in recursive linear models for grouped or censored data," Journal of Econometrics, Elsevier, vol. 28(3), pages 291-305, June.
  2. Brown, Gardner M, Jr & Mendelsohn, Robert, 1984. "The Hedonic Travel Cost Method," The Review of Economics and Statistics, MIT Press, vol. 66(3), pages 427-33, August.
  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. Morey, Edward R. & Shaw, W. Douglass & Rowe, Robert D., 1991. "A discrete-choice model of recreational participation, site choice, and activity valuation when complete trip data are not available," Journal of Environmental Economics and Management, Elsevier, vol. 20(2), pages 181-201, March.
  5. Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-19, November.
  6. McConnell, K. E., 1990. "Models for referendum data: The structure of discrete choice models for contingent valuation," Journal of Environmental Economics and Management, Elsevier, vol. 18(1), pages 19-34, January.
  7. Guilkey, David K. & Murphy, James L., 1993. "Estimation and testing in the random effects probit model," Journal of Econometrics, Elsevier, vol. 59(3), pages 301-317, October.
  8. Grogger, Jeffrey, 1990. "A simple test for exogeneity in probit, logit, and poisson regression models," Economics Letters, Elsevier, vol. 33(4), pages 329-332, August.
  9. Keith, John E. & Lyon, Kenneth S., 1985. "Valuing Wildlife Management: A Utah Deer Herd," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(02), December.
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Citations

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Cited by:
  1. Mary Riddel & John Loomis, 1998. "Joint Estimation of Multiple CVM Scenarios under a Double Bounded Questioning Format," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 12(1), pages 77-98, July.
  2. John C. Whitehead, 2000. "“Anchoring and Shift in Multiple Bound Contingent Valuation,”," Working Papers 0004, East Carolina University, Department of Economics.
  3. Mozumder, Pallab & Vásquez, William F. & Marathe, Achla, 2011. "Consumers' preference for renewable energy in the southwest USA," Energy Economics, Elsevier, vol. 33(6), pages 1119-1126.
  4. Alberto Longo & David Hoyos & Anil Markandya, 2012. "Willingness to Pay for Ancillary Benefits of Climate Change Mitigation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 51(1), pages 119-140, January.

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