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Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses

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  • W. Michael Hanemann

Abstract

Since the work of Bishop and Heberlein, a number of contingent valuation experiments have appeared involving discrete responses which are analyzed by logit or similar techniques. This paper addresses the issues of how the logit models should be formulated to be consistent with the hypothesis of utility maximization and how measures of compensating and equivalent surplus should be derived from the fitted models. Two distinct types of welfare measures are introduced and then estimated from Bishop and Heberlein's data.

Suggested Citation

  • W. Michael Hanemann, 1984. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 332-341.
    • Handle: RePEc:oup:ajagec:v:66:y:1984:i:3:p:332-341.
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