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Does Uncertainty Matter: An Application to the Willingness to Pay to Reduce Swimming Bans in Chicago

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Author Info
Shaikh, Sabina
Abstract

Using a survey of Chicago beachgoers, this research examines the effect of uncertain response options on the willingness to pay to reduce swimming bans. Various recoding options are tested and implemented, as well as multinomial model for choice. Estimates are compared to those from a dataset with certainty, as well as to those from revealed preference methods. The reasons and sources for uncertainty are explored and compared across samples.

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File URL: http://purl.umn.edu/19134
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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 19134.

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Date of creation: 2005
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Handle: RePEc:ags:aaea05:19134

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Keywords: Institutional and Behavioral Economics;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Wang, Hua, 1997. "Treatment of "Don't-Know" Responses in Contingent Valuation Surveys: A Random Valuation Model," Journal of Environmental Economics and Management, Elsevier, vol. 32(2), pages 219-232, February. [Downloadable!] (restricted)
  2. Sabina Shaikh & Pavel Suchánek & Lili Sun & G. Cornelis van Kooten, 2003. "Does Inclusion of Landowners’ Non-Market Values Lower Costs of Creating Carbon Forest Sinks?," Working Papers 2003-03, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group. [Downloadable!]
  3. Li Chuan-Zhong & Mattsson Leif, 1995. "Discrete Choice under Preference Uncertainty: An Improved Structural Model for Contingent Valuation," Journal of Environmental Economics and Management, Elsevier, vol. 28(2), pages 256-269, March. [Downloadable!] (restricted)
  4. Alberini, Anna & Boyle, Kevin & Welsh, Michael, 2003. "Analysis of contingent valuation data with multiple bids and response options allowing respondents to express uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 45(1), pages 40-62, January. [Downloadable!] (restricted)
  5. Ready Richard C. & Whitehead John C. & Blomquist Glenn C., 1995. "Contingent Valuation When Respondents Are Ambivalent," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 181-196, September. [Downloadable!] (restricted)
  6. Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September. [Downloadable!] (restricted)
  7. Champ, Patricia A. & Bishop, Richard C. & Brown, Thomas C. & McCollum, Daniel W., 1997. "Using Donation Mechanisms to Value Nonuse Benefits from Public Goods," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 151-162, June. [Downloadable!] (restricted)
  8. van Kooten, G Cornelis & Krcmar, Emina & Bulte, Erwin H, 2001. " Preference Uncertainty in Non-market Valuation: A Fuzzy Approach," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 83(3), pages 487-500, August. [Downloadable!] (restricted)
  9. Richard C. Ready & Ståle Navrud & RW. Richard Dubourg, 2001. "How Do Respondents with Uncertain Willingness to Pay Answer Contingent Valuation Questions?," Land Economics, University of Wisconsin Press, vol. 77(3), pages 315-326. [Downloadable!] (restricted)
  10. Loomis, John & Ekstrand, Earl, 1998. "Alternative approaches for incorporating respondent uncertainty when estimating willingness to pay: the case of the Mexican spotted owl," Ecological Economics, Elsevier, vol. 27(1), pages 29-41, October. [Downloadable!] (restricted)
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