Complements, Substitutes, Budget Constraints and Valuation
This study employs a multi-program contingent valuation (CVM) design tosimultaneously assess the value of three ecosystem conservation programsin Alberta, Canada. The design is different from most other CVM designsand has several different features including the natural incorporation ofdirect reminders of substitute/complementary programs and budgetconstraints. In contrast to the findings of other studies, two of the environmentalprograms appear to be complements and other combinations of the programssuggest an absence of substitution effects. The multi-program model ismore informative and robust in terms of theoretical validity and expectedrelationships with demographic and recreational characteristics of therespondents. Copyright Kluwer Academic Publishers 2000
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Volume (Year): 16 (2000)
Issue (Month): 1 (May)
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References listed on IDEAS
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- Amemiya, Takeshi, 1981. "Qualitative Response Models: A Survey," Journal of Economic Literature, American Economic Association, vol. 19(4), pages 1483-1536, December.
- Adamowicz, Wiktor L. & Boxall, Peter C. & Williams, Michael & Louviere, Jordan, 1995. "Stated Preference Approaches for Measuring Passive Use Values: Choice Experiments versus Contingent Valuation," Staff Paper Series 24126, University of Alberta, Department of Resource Economics and Environmental Sociology.
- Daniel McFadden, 1996. "Computing Willingness-to-Pay in Random Utility Models," Working Papers _011, University of California at Berkeley, Econometrics Laboratory Software Archive.
- Carson Richard T. & Mitchell Robert Cameron, 1995. "Sequencing and Nesting in Contingent Valuation Surveys," Journal of Environmental Economics and Management, Elsevier, vol. 28(2), pages 155-173, March.
- 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.
- Madden, Paul, 1991. "A Generalization of Hicksian q Substitutes and Complements with Application to Demand Rationing," Econometrica, Econometric Society, vol. 59(5), pages 1497-508, September.
- Hoehn John P. & Loomis John B., 1993. "Substitution Effects in the Valuation of Multiple Environmental Programs," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 56-75, July.
- Neill Helen R., 1995. "The Context for Substitutes in CVM Studies: Some Empirical Observations," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages 393-397, November.
- Wiktor Adamowicz & Peter Boxall & Michael Williams & Jordan Louviere, 1998. "Stated Preference Approaches for Measuring Passive Use Values: Choice Experiments and Contingent Valuation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 64-75.
- John Loomis & Armando Gonzalez-Caban & Robin Gregory, 1994. "Do Reminders of Substitutes and Budget Constraints Influence Contingent Valuation Estimates?," Land Economics, University of Wisconsin Press, vol. 70(4), pages 499-506.
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