Efficient Estimation Methods for "Closed-Ended" Contingent Valuation Surveys

Preprint
Publisher Website
Google Scholar
    • preprint
      • Published in RePEc
Abstract
"Closed-ended contingent valuation" surveys can be very useful in the evaluation of nonmarket resources. Respondents merely state whether they would accept or reject a hypothetical threshold amount, either as payment for giving up access to the resource or as a fee for its use. The authors develop a maximum likelihood procedure which exploits the variation in the threshold values to allow direct and separate point estimates of regression-like slope coefficients and error standard deviations (without truncation bias). Their illustration uses data from a survey of recreational fisherman to examine factors which influence individuals' willingness-to-pay. Copyright 1987 by MIT Press. (This abstract was borrowed from another version of this item.)
All Related Versions

This publication has 0 references indexed in Scilit: