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A Pseudo-Sequential Choice Model for Valuing Multiple Environmental Policy or Program Components in Contingent Valuation Applications

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Author Info
Volinskiy, Dmitriy
Bergstrom, John
Cornwell, Christopher

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Abstract

The study proposes a discrete-choice model for environmental policy/program valuation, to be used in cases when several policies are valued sequentially. The stochastic specifcation of the model is consistent with the transitivity and continuity axioms of utility analysis. An empirical methodology for the model is suggested. An application of this model to WTP estimation for Little Tennessee River watershed ecosystem restoration is provided. Findings from the application agree with the hypothesized agent's behavior.

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File URL: http://purl.umn.edu/19109
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Publisher Info
Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2005 Annual meeting, July 24-27, Providence, RI with number 19109.

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Date of creation: 2005
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Handle: RePEc:ags:aaea05:19109

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Keywords: Environmental Economics and Policy;

References listed on IDEAS
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  1. Hanemann, W Michael, 1984. "Discrete-Continuous Models of Consumer Demand," Econometrica, Econometric Society, vol. 52(3), pages 541-61, May. [Downloadable!] (restricted)
  2. Holmes, Thomas P. & Bergstrom, John C. & Huszar, Eric & Kask, Susan B. & Orr, Fritz III, 2004. "Contingent valuation, net marginal benefits, and the scale of riparian ecosystem restoration," Ecological Economics, Elsevier, vol. 49(1), pages 19-30, May. [Downloadable!] (restricted)
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This page was last updated on 2009-11-26.

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