EconPapers    
Economics at your fingertips  
 

Joint Estimation of Multiple CVM Scenarios under a Double Bounded Questioning Format

Mary Riddel () and John Loomis

Environmental & Resource Economics, 1998, vol. 12, issue 1, 77-98

Abstract: Contingent valuation surveys frequently ask the same respondent for willingness to pay (WTP) for either different programs or different levels of provision of a single program. When multiple scenarios are considered by the respondent, the errors in the estimates of WTP are likely to be correlated across scenarios. Failing to account for correlation may lead to erroneous inferences concerning differences in WTP. This paper presents a technique that can be used to jointly estimate WTP for multiple scenarios proposed within a survey when the double-bounded questioning format is used. Monte Carlo simulations are employed to show that estimates derived from the joint model provide lower parameter variances as well as tighter confidence intervals surrounding WTP. The model is used to estimate WTP values for data collected in telephone interviews of California residents concerning WTP for fire reduction programs in Oregon and California. Variance properties of these estimates are shown to be similar to those estimated using simulated data. Copyright Kluwer Academic Publishers 1998

Keywords: old growth forest; willing to pay (search for similar items in EconPapers)
Date: 1998
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1023/A:1008228926516 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:enreec:v:12:y:1998:i:1:p:77-98

Ordering information: This journal article can be ordered from
http://www.springer. ... al/journal/10640/PS2

DOI: 10.1023/A:1008228926516

Access Statistics for this article

Environmental & Resource Economics is currently edited by Ian J. Bateman

More articles in Environmental & Resource Economics from Springer, European Association of Environmental and Resource Economists Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2022-09-29
Handle: RePEc:kap:enreec:v:12:y:1998:i:1:p:77-98