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A Mixture Model of Willingness to Pay Distributions

  • Mark Yuying An

    (Duke Uniersity)

  • Roberto Ayala

    (Central Bank, Ecuador)

In this paper we propose a mixture model of willingness to pay distributions for contingent valuation studies. By allowing a point mass at zero, this model nests the conventional model as a special case. We discuss both parametric and non- parametric estimations of the mixture model. We consider estimation under two different data information settings for a double bounded dichotomous choice format. The implications of the mixture model in the estimation of the mean and the median of the distribution are presented.

(This abstract was borrowed from another version of this item.)

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Paper provided by EconWPA in its series Econometrics with number 9611002.

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Length: 30 pages
Date of creation: 17 Nov 1996
Date of revision:
Handle: RePEc:wpa:wuwpem:9611002
Note: Type of Document - ; prepared on UNIX Sparc TeX; to print on PostScript; pages: 30 ; figures: request from author. We never published this piece and now we would like to reduce our mailing and xerox cost by posting it.
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  1. Hanemann, W. Michael, 1985. "Some Issues In Continuous - And Discrete - Response Contingent Valuation Studies," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 14(1), April.
  2. Mark Yuying An & Roberto Ayala, 1996. "Nonparametric Estimation of a Survivor Function with Across- Interval-Censored Data," Econometrics 9611003, EconWPA.
  3. Smith, V. Kerry, 1985. "Some Issues In Discrete Response Contingent Valuation Studies," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 14(1), April.
  4. Mark Yuying An & Roberto Ayala, 1996. "A Mixture Model of Willingness to Pay Distributions," Econometrics 9611002, EconWPA.
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