Willingness to Pay for Environmental Improvements in a Large City Evidence from The Spike Model and From a Non-Parametric Approach |
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| Authors: | Salvador Del Saz-Salazar and Leandro Garcia-Menendez |
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| Institution: | (1) Department of Applied Economics II, University of Valencia, Edificio Departamental Oriental, Av. dels Tarongers s/n, 46022 Valencia, Spain;(2) Department of Applied Economics II, University of Valencia, Edificio Departamental Oriental, Av. dels Tarongers s/n, 46022 Valencia, Spain |
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| Abstract: | In this paper, the Contingent Valuation Method (CVM) is applied in order toestimate the social benefits of a set of environmental and urbanimprovements planned for the waterfront of the City of Valencia (Spain) asa consequence of the expansion and restructuring of its trading port. Asthe data show a high rate of zero responses, we applied the Spike model,one of the most recent models in CVM literature, since traditional models(Logit and Probit) are not suitable, given the characteristics of our data.The non-parametric approach is also applied in order to test the validity ofthe Spike model. The results show certain similarities between the Spikemodel and the non-parametric approach. |
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| Keywords: | Contingent Valuation Method environmental improvements non-parametric approach Spike model |
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