Parametric and Semi-Nonparametric Estimation of Willingness-to-Pay in the Dichotomous Choice Contingent Valuation Framework |
| |
Authors: | John R Crooker Joseph A Herriges |
| |
Institution: | (1) Department of Economics and Finance, Central Missouri State University, Warrensburg, MO, 64093;(2) Department of Economics &; Finance, Dockery 307H, Warrensburg, MO, 64093;(3) Department of Economics, Iowa State University, Ames, IA, 50011-1070 |
| |
Abstract: | Standard procedures for extractingwillingness-to-pay (WTP) from dichotomouschoice CV questionnaires rely heavily uponparametric assumptions regarding thedistribution and form of WTP in the sampledpopulation. However, theory provides littleguidance regarding which parametricspecification to use and the resulting WTPestimates can be sensitive to the selectionsmade. Here we compare and contrast severalparametric and semi-nonparametric estimatorsthat have been proposed in the literature,examining the sensitivity of the resulting WTPestimates to the underlying distribution ofpreferences and the estimation procedureemployed. |
| |
Keywords: | dichotomous choice estimators |
本文献已被 SpringerLink 等数据库收录! |
|