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A Semiparametric Distribution for Willingness to Pay and Statistical Inference with Dichotomous Choice Contingent Valuation Data

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  • Mark Yuying An

Abstract

This paper proposes a semiparametric willingness to pay distribution and discusses several aspects of statistical inference with dichotomous choice contingent valuation data. We study likelihood-based estimation of the model parameters with and without controlling for unobserved heterogeneity, estimation of the mean and median willingness to pay, and specification tests. These statistical procedures are implemented using a data set. In this application we find that a parametric model is rejected in favor of our semiparametric model, that the heterogeneity can be adequately controlled using a simple density, and that the semiparametric model offers more robust mean willingness to pay estimates. Copyright 2000, Oxford University Press.

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Bibliographic Info

Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 82 (2000)
Issue (Month): 3 ()
Pages: 487-500

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Handle: RePEc:oup:ajagec:v:82:y:2000:i:3:p:487-500

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Cited by:
  1. Pere Riera & Raúl Brey & Guillermo Gándara, 2008. "Bid design for non-parametric contingent valuation with a single bounded dichotomous choice format," Hacienda Pública Española, IEF, vol. 186(3), pages 43-60, October.
  2. Torero, Maximo & Chowdhury, Shyamal K. & Galdo, Virgilio, 2003. "Willingness to pay for the rural telephone service in Bangladesh and Peru," Information Economics and Policy, Elsevier, vol. 15(3), pages 327-361, September.
  3. Mark Y. An & Bent Jesper Christensen & Nabanita Datta Gupta, 2004. "Multivariate mixed proportional hazard modelling of the joint retirement of married couples," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(6), pages 687-704.
  4. Arthur Lewbel & Oliver Linton & D. L. McFadden, 2006. "Estimating features of a distribution from binomial data," LSE Research Online Documents on Economics 4418, London School of Economics and Political Science, LSE Library.
  5. José Sanz & Luis Herrero & Ana Bedate, 2003. "Contingent Valuation and Semiparametric Methods: A Case Study of the National Museum of Sculpture in Valladolid, Spain," Journal of Cultural Economics, Springer, vol. 27(3), pages 241-257, November.
  6. Mark Yuying An, 2004. "Likelihood-Based Estimation of a Proportional-Hazard, Competing- Risk Model with Grouped Duration Data," Urban/Regional 0407013, EconWPA.
  7. Arana, Jorge E. & Leon, Carmelo J., 2005. "Flexible mixture distribution modeling of dichotomous choice contingent valuation with heterogenity," Journal of Environmental Economics and Management, Elsevier, vol. 50(1), pages 170-188, July.
  8. Satimanon, Monthien & Lupi, Frank, 2010. "Comparison of Approaches to Estimating Demand for Payment for Environmental Services," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61288, Agricultural and Applied Economics Association.
  9. Lamiraud, Karine & von Bremen, Konrade & Donaldson, Cam, 2009. "The impact of information on patient preferences in different delivery patterns: A contingent valuation study of prescription versus OTC drugs," Health Policy, Elsevier, vol. 93(2-3), pages 102-110, December.
  10. Álvarez Díaz, Marcos & González Gómez, Manuel & Saavedra González, Ángeles & De Uña Álvarez, Jacobo, 2010. "On dichotomous choice contingent valuation data analysis: Semiparametric methods and Genetic Programming," Journal of Forest Economics, Elsevier, vol. 16(2), pages 145-156, April.
  11. 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.
  12. Huang, Ju-Chin & Nychka, Douglas W. & Smith, V. Kerry, 2008. "Semi-parametric discrete choice measures of willingness to pay," Economics Letters, Elsevier, vol. 101(1), pages 91-94, October.
  13. Bergtold, Jason S. & Taylor, Daniel B. & Bosch, Darrell J., 2003. "Networking Your Way to a Better Prediction: Effectively Modeling Contingent Valuation Survey Data," 2003 Annual meeting, July 27-30, Montreal, Canada 22152, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  14. Jorge E. Arana & Carmelo J. Leon, 2004. "Baysian Flexible Mixture Distribution Modelling of Dichotomous Choice Contingent Valuation with Heterogeneity," Econometric Society 2004 North American Summer Meetings 568, Econometric Society.

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