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The treatment of income variable in willingness to pay studies

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  • Wipon Aiew
  • Rodolfo Nayga
  • Richard Woodward

Abstract

This paper evaluates income variable specification and functional form issues in contingent-valuation studies using the utility-theoretic approach. Applying data from a study of willingness to pay for irradiated beef, results suggest that functional form does affect the estimates, but variable specification does not introduce statistically significant differences.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 11 (2004)
Issue (Month): 9 ()
Pages: 581-585

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Handle: RePEc:taf:apeclt:v:11:y:2004:i:9:p:581-585

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Cited by:
  1. Henry-Osorio, Miguel & Mittelhammer, Ronald C., 2012. "An Information-Theoretic Approach to Modeling Binary Choices: Estimating Willingness to Pay for Recreation Site Attributes," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 123432, Agricultural and Applied Economics Association.
  2. Mehdi Farsi, 2008. "Risk-Aversion and Willingness to Pay for Energy Efficient Systems in Rental Apartments," CEPE Working paper series 08-55, CEPE Center for Energy Policy and Economics, ETH Zurich.
  3. Thomas Broberg, 2010. "Income Treatment Effects in Contingent Valuation: The Case of the Swedish Predator Policy," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 46(1), pages 1-17, May.

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