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Using Multiple-Scenario Contingent Valuation Data to Estimate Willingness to Pay for Restoration of Mississippi’s Barrier Islands

Author

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  • Kim, GwanSeon
  • Petrolia, Daniel R.
  • Interis, Matthew G.

Abstract

This research applies a novel method of non-market valuation to the case of barrier island restoration in Mississippi. The objective is to estimate peoples’ willingness to pay (WTP) for restoration to pre-Camille status (i.e., as the barriers islands existed prior to Hurricane Camille in 1969). This is accomplished by incorporating the WTP responses for the Pre-Camille status as well as WTP data from two alternative restoration scenarios. An interval censored model was used to estimate WTP and compare WTP in both the single bounded model and the novel approach. This study found that the novel method introduced here results in higher WTP estimate: WTP under the standard single bounded model is $145.74, whereas the novel approach yields a mean WTP of $204.26.

Suggested Citation

  • Kim, GwanSeon & Petrolia, Daniel R. & Interis, Matthew G., 2011. "Using Multiple-Scenario Contingent Valuation Data to Estimate Willingness to Pay for Restoration of Mississippi’s Barrier Islands," 2011 Annual Meeting, February 5-8, 2011, Corpus Christi, Texas 98899, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saea11:98899
    DOI: 10.22004/ag.econ.98899
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    Cited by:

    1. Tatiana Cantillo & Andrés Vargas & Víctor Cantillo & José Ramos, 2020. "What determines university student’s willingness to pay for bikeways?," Transportation, Springer, vol. 47(5), pages 2267-2286, October.

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    Environmental Economics and Policy;

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