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Using Random Parameters to Account for Heterogeneous Preferences in Contingent Valuation of Public Open Space

  • Nahuelhual, Laura
  • Loureiro, Maria L.
  • Loomis, John B.

To test for preference heterogeneity in dichotomous choice contingent valuation responses, a random parameter logit (RPL) specification is used in this analysis. The RPL model confirms heterogeneity in respondents' preferences for protection of public open space, as reflected in statistically significant standard deviations of the normally distributed random parameters. Results show that while the majority of respondents indicate a positive willingness to pay (WTP), a minority of those surveyed report a negative WTP. Some of this variation in tastes remains even after individual characteristics and attitudinal variables are included in the model.

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File URL: http://purl.umn.edu/30909
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Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

Volume (Year): 29 (2004)
Issue (Month): 03 (December)
Pages:

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Handle: RePEc:ags:jlaare:30909
Contact details of provider: Web page: http://waeaonline.org/

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  1. Clinch, J Peter & Murphy, Anthony, 2001. "Modelling Winners and Losers in Contingent Valuation of Public Goods: Appropriate Welfare Measures and Econometric Analysis," Economic Journal, Royal Economic Society, vol. 111(470), pages 420-43, April.
  2. Bengt Kristr�m, 1997. "Spike Models in Contingent Valuation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 1013-1023.
  3. Layton, David F., 2000. "Random Coefficient Models for Stated Preference Surveys," Journal of Environmental Economics and Management, Elsevier, vol. 40(1), pages 21-36, July.
  4. Anni Huhtala, 2000. "Binary Choice Valuation Studies with Heteregeneous Preferences Regarding the Program Being Valued," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 16(3), pages 263-279, July.
  5. Heng Z. Chen & Stephen R. Cosslett, 1998. "Environmental Quality Preference and Benefit Estimation in Multinomial Probit Models: A Simulation Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(3), pages 512-520.
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