COMPARING MODELS FOR CONTINGENT VALUATION SURVEYS: STATISTICAL EFFICIENCY AND THE PRECISION OF BENEFIT ESTIMATES

Timothy Park and John Loomis

Northeastern Journal of Agricultural and Resource Economics, 1992, vol. 21, issue 2, 7

Abstract: This paper empirically tested the three conditions identified by McConnell for equivalence of the linear utility difference model and the valuation function approach to dichotomous choice contingent valuation. Using a contingent valuation survey for deer hunting in California, two of the three conditions were violated. Even though the models are not simple linear transforms of each other for this survey, estimates of mean willingness to pay and their associated 95% confidence intervals around the mean were quite similar for the valuation methods.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nejare:29009

DOI: 10.22004/ag.econ.29009

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