Improved Estimation of Willingness to Pay in Dichotomous Choice Contingent Valuation Studies
This paper uses recently developed statistical techniques to achieve improved parameter estimates from models of dichotomous choice contingent valuation data. Random effects associated with bid amounts presented to respondents are modelled alongside the variance of individual responses, to give a nested model which more truly reflects the structure of the data being analyzed. Quasi-likelihood methods for estimating parameters in such hierarchical models are discussed, and a simulation method for assessing goodness of fit is demonstrated. However, estimated parameters may still be biased, and hence, a parametric bootstrap technique is presented and compared to a delta method approximation.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:74:y:1998:i:1:p:65-75. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.