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A Mixture Model of Willingness to Pay Distributions

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Author Info

  • Mark Yuying An

    (Duke Uniersity)

  • Roberto Ayala

    (Central Bank, Ecuador)

Abstract

In this paper we propose a mixture model of willingness to pay distributions for contingent valuation studies. By allowing a point mass at zero, this model nests the conventional model as a special case. We discuss both parametric and non- parametric estimations of the mixture model. We consider estimation under two different data information settings for a double bounded dichotomous choice format. The implications of the mixture model in the estimation of the mean and the median of the distribution are presented.

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Bibliographic Info

Paper provided by EconWPA in its series Econometrics with number 9611002.

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Length: 30 pages
Date of creation: 17 Nov 1996
Date of revision:
Handle: RePEc:wpa:wuwpem:9611002

Note: Type of Document - ; prepared on UNIX Sparc TeX; to print on PostScript; pages: 30 ; figures: request from author. We never published this piece and now we would like to reduce our mailing and xerox cost by posting it.
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Related research

Keywords: Mixture Model; Contingent valuation; Zero Willingness to Pay;

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References

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  1. Mark Yuying An & Roberto Ayala, 1996. "A Mixture Model of Willingness to Pay Distributions," Econometrics 9611002, EconWPA.
  2. An, Mark Yuying & Ayala, Roberto A., 1996. "Nonparametric Estimation of a Survivor Function with Across-Interval-Censored Data," Working Papers 96-02, Duke University, Department of Economics.
  3. Smith, V. Kerry, 1985. "Some Issues In Discrete Response Contingent Valuation Studies," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 14(1), April.
  4. Hanemann, W. Michael, 1985. "Some Issues In Continuous - And Discrete - Response Contingent Valuation Studies," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 14(1), April.
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