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Exploring the determinants of uncertainty in contingent valuation surveys

Author

Listed:
  • Pierre-Alexandre Mahieu

    (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - IEMN-IAE Nantes - Institut d'Économie et de Management de Nantes - Institut d'Administration des Entreprises - Nantes - UN - Université de Nantes)

  • Pere Riera

    (UAB - Universitat Autònoma de Barcelona = Autonomous University of Barcelona = Universidad Autónoma de Barcelona)

  • Bengt Kriström

    (SLU - Swedish University of Agricultural Sciences = Sveriges lantbruksuniversitet)

  • Runar Brännlund
  • Marek Giergiczny

    (UW - University of Warsaw)

Abstract

This paper uses the interval data model to explore the determinants of uncertainty in two-way payment ladder and in multiple-bounded uncertainty choice surveys. It estimates the uncertainty function that relates the size of the willingness-to-pay range to explanatory variables, where one of them is a proxy of the actual willingness-to-pay. The combination of the interval data model and the inclusion of the proxy variable present some advantages over the ordinary least square estimations currently used in the literature. In particular, it reduces the risk of the omitted variable bias and it takes into account that the dependent variable is not fully observed.

Suggested Citation

  • Pierre-Alexandre Mahieu & Pere Riera & Bengt Kriström & Runar Brännlund & Marek Giergiczny, 2014. "Exploring the determinants of uncertainty in contingent valuation surveys," Post-Print hal-04296008, HAL.
    • Handle: RePEc:hal:journl:hal-04296008
    DOI: 10.1080/21606544.2013.876941
    as

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