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Joint Estimation of Contingent Valuation Survey Responses

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  • Park, Timothy
  • Loomis, John

Abstract

Hanemann's utility difference model for the dichotomous choice contingent valuation method is modified to account for interrelationships between responses to a set of contingent valuation questions. A nonlinear seemingly unrelated regression model is presented to jointly estimate the probit models and to derive WTP from the CV responses. The model is used to test and impose restrictions derived from economic theory on the utility difference model. Mean WTP estimates for three different types of changes in the quality of California deer hunting were uniformly lower for the joint response probit model compared to a set of independent probit models. Copyright Kluwer Academic Publishers 1996
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Suggested Citation

  • Park, Timothy & Loomis, John, 1991. "Joint Estimation of Contingent Valuation Survey Responses," WAEA/ WFEA Conference Archive (1929-1995) 321423, Western Agricultural Economics Association.
    • Handle: RePEc:ags:waeaar:321423
    DOI: 10.22004/ag.econ.321423
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    2. Mozumder, Pallab & Vásquez, William F. & Marathe, Achla, 2011. "Consumers' preference for renewable energy in the southwest USA," Energy Economics, Elsevier, vol. 33(6), pages 1119-1126.
    3. Mary Riddel & John Loomis, 1998. "Joint Estimation of Multiple CVM Scenarios under a Double Bounded Questioning Format," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 12(1), pages 77-98, July.
    4. Pallab Mozumder & Ryan Helton & Robert P. Berrens, 2009. "Provision of a Wildfire Risk Map: Informing Residents in the Wildland Urban Interface," Risk Analysis, John Wiley & Sons, vol. 29(11), pages 1588-1600, November.
    5. Polinori, Paolo, 2019. "Wind energy deployment in wind farm aging context. Appraising an onshore wind farm enlargement project: A contingent valuation study in the Center of Italy," Energy Economics, Elsevier, vol. 79(C), pages 206-220.
    6. Alberto Longo & David Hoyos & Anil Markandya, 2012. "Willingness to Pay for Ancillary Benefits of Climate Change Mitigation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 51(1), pages 119-140, January.
    7. John C. Whitehead, 2000. "“Anchoring and Shift in Multiple Bound Contingent Valuation,”," Working Papers 0004, East Carolina University, Department of Economics.

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