A Note on a Bayesian Approach to a Dichotomous Choice Environmental Valuation Model
As an alternative to the classical approach for analysing dichotomous choice environmental valuation data, this note develops a Bayesian approach by using the idea of Gibbs sampling and data augmentation. A by-product from the approach is a welfare measure, such as the mean willingness to pay, and its confidence interval, which can be used for policy analysis.
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Volume (Year): 31 (2004)
Issue (Month): 10 ()
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