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Obtaining Welfare Bounds in Discrete-Response Valuation Studies: A Non-Parametric Approach

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  • Mattias Boman
  • Göran Bostedt
  • Bengt Kriström

Abstract

Welfare change estimates obtained from discrete-response contingent valuation experiments normally assume a particular distribution of willingness-to-pay (W TP).U sing conventional microeconomic theory, we derive upper and lower bounds on such estimates. These bounds are interpreted statistically in terms of non-parametric estimators of mean WTP and its variance. Two contingent valuation surveys illustrate the proposed bounds, and the performances of the variance estimators are scrutinized with a Monte Carlo simulation. All calculations can be made by hand, simplifying communication among those involved in interpreting result from contingent valuation studies using discrete-response data.

Suggested Citation

  • Mattias Boman & Göran Bostedt & Bengt Kriström, 1999. "Obtaining Welfare Bounds in Discrete-Response Valuation Studies: A Non-Parametric Approach," Land Economics, University of Wisconsin Press, vol. 75(2), pages 284-294.
    • Handle: RePEc:uwp:landec:v:75:y:1999:i:2:p:284-294
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    JEL classification:

    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources

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