A Comparison of Willingness to Pay Estimation Techniques From Referendum Questions
John Loomis and
Joseph Cooper ()
Environmental & Resource Economics, 2001, vol. 20, issue 4, 346 pages
Referendum style willingness to pay questions have been used to estimatepassive use values. This referendum question format method may beproblematic for many reasons, including the statistical techniques used toestimate willingness to pay from discrete responses. This paper comparesa number of parametric, semi-nonparametric and nonparametric estimationtechniques using data collected from US households regarding Federalprotection of endangered fish species.The advantages and disadvantagesof the various statistical models used are explored. A hypothesis test forstatistical equality among estimation techniques is performed using ajackknife bootstrapping method. When the equality test is applied, themodeling techniques do show significant differences in some possiblecomparisons, but only those that are nonparamentric. This can lead toconflicting interpretations of what the data show. Resource managers andpolicy analysts need to use caution when interpreting results until anindustry standard can be developed for estimating willingness to pay fromclosed ended questions. Copyright Kluwer Academic Publishers 2001
Keywords: contingent valuation; endangered species; nonmarket economics; willingness to pay (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:enreec:v:20:y:2001:i:4:p:331-346
Ordering information: This journal article can be ordered from
http://www.springer. ... al/journal/10640/PS2
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 ().