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Accounting for Negative, Zero and Positive Willingness to Pay for Landscape Change in a National Park

  • Nick Hanley
  • Sergio Colombo
  • Bengt Kriström
  • Fiona Watson

"In contingent valuation, despite the fact that many externalities manifest themselves as costs to some and benefits to others, most studies restrict willingness to pay to being non-negative. In this paper, we investigate the impact of allowing for negative, zero and positive preferences for prospective changes in woodland cover in two UK national parks, the Lake District and the Trossachs. An extended spike model is used to accomplish this. The policy implications of not allowing for negative values in terms of aggregate benefits are also investigated, by comparing the extended spike model with a simple spike making use of only zero and positive bids, and a model which considers positive bids only. We find that ignoring negative values over-states the aggregate benefits of a woodland planting project by up to 44%." Copyright (c) 2008 The Authors. Journal compilation (c) 2008 The Agricultural Economics Society.

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Article provided by Wiley Blackwell in its journal Journal of Agricultural Economics.

Volume (Year): 60 (2009)
Issue (Month): 1 ()
Pages: 1-16

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Handle: RePEc:bla:jageco:v:60:y:2009:i:1:p:1-16
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  1. Kahneman, Daniel & Knetsch, Jack L., 1992. "Valuing public goods: The purchase of moral satisfaction," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 57-70, January.
  2. Werner, Megan, 1999. "Allowing for Zeros in Dichotomous-Choice Contingent-Valuation Models," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(4), pages 479-86, October.
  3. Jason Shogren & John List, 2002. "Calibration of willingness-to-accept," Framed Field Experiments 00182, The Field Experiments Website.
  4. Richard C. Ready & Ståle Navrud & RW. Richard Dubourg, 2001. "How Do Respondents with Uncertain Willingness to Pay Answer Contingent Valuation Questions?," Land Economics, University of Wisconsin Press, vol. 77(3), pages 315-326.
  5. Mark Yuying An & Roberto Ayala, 1996. "A Mixture Model of Willingness to Pay Distributions," Econometrics 9611002, EconWPA.
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