A Mixture Model of Willingness to Pay Distributions

Preprint
Publisher Website
Google Scholar
    • preprint
      • Published in RePEc
Abstract
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.)
All Related Versions

This publication has 0 references indexed in Scilit: