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Interval Bidding in a Distribution Elicitation Format

Listed author(s):
  • Pierre-Alexandre Mahieu

    ()

    (LEMNA, University of Nantes)

  • François-Charles Wolff

    ()

    (LEMNA, University of Nantes and INED)

  • Jason Shogren

    ()

    (Department of Economics and Finance, University of Wyoming)

Interval bidding allows people to report a range of values for a non-market good. Herein we allow people to choose their distribution over this range endogenously. Using elephant protection as our motivating example, our results suggest the shape of the distribution greatly varies across people and the degree of uncertainty is proportional to their willingness to pay. We also find that both the expected willingness to pay and the degree of uncertainty differ when the valuation exercise is real versus hypothetical.

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File URL: http://faere.fr/pub/WorkingPapers/Mahieu_Wolff_Shogren_FAERE-WP2014-16.pdf
File Function: First version, 2014
Download Restriction: no

Paper provided by FAERE - French Association of Environmental and Resource Economists in its series Working Papers with number 2014.16.

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Length: 28 pages
Date of creation: Dec 2014
Handle: RePEc:fae:wpaper:2014.16
Contact details of provider: Web page: http://www.faere.fr

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  3. Jacquemet, Nicolas & Joule, Robert-Vincent & Luchini, Stéphane & Shogren, Jason F., 2013. "Preference elicitation under oath," Journal of Environmental Economics and Management, Elsevier, vol. 65(1), pages 110-132.
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  14. Lewis, Jeffrey B. & Linzer, Drew A., 2005. "Estimating Regression Models in Which the Dependent Variable Is Based on Estimates," Political Analysis, Cambridge University Press, vol. 13(04), pages 345-364, September.
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