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Nonmarket Valuation under Preference Uncertainty: Econometric Models and Estimation

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Author Info
W. Hanemann (University of California, Berkeley)
Bengt Kristrom (Department of Forest Economics, SLU, Umea)
Chuan-Zhong Li (University of Umea)

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Abstract

This paper makes an attempt to introduce preference uncertainty into discrete choice models used in contingent valuation experiments. We develop an econometric model which may characterize the degree of the uncertainty and provide an empirical illustration of the suggested model.

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File URL: http://repositories.cdlib.org/cgi/viewcontent.cgi?article=1170&context=are_ucb
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Publisher Info
Paper provided by Department of Agricultural & Resource Economics, UC Berkeley in its series Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series with number 794.

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Date of creation: 01 May 1996
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Handle: RePEc:cdl:agrebk:794

Note: oai:cdlib1:are_ucb-1170
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Related research
Keywords: contingent valuation; consumers' preferences; econometrics; risk;

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