Spike Models in Contingent Valuation

Bengt Kriström

American Journal of Agricultural Economics, 1997, vol. 79, issue 3, 1013-1023

Abstract: Spike models allow for a nonzero probability of zero willingness to pay in referendum-style contingent valuation experiments. They include many of the often used models as special cases and allow various analyses that are not possible in standard applications. In this paper, the economic rationale for the spike models and their estimation techniques are discussed, and empirical illustrations are provided. One study suggests that mean willingness to pay is zero, and both studies strongly suggest that median WTP is zero. These results have some bearing on the continuing debate of the incentive properties of hypothetical surveys and the construction of scenarios in contingent valuation experiments. Copyright 1997, Oxford University Press.

Date: 1997
References: Add references at CitEc
Citations: View citations in EconPapers (62)

Downloads: (external link)
http://hdl.handle.net/10.2307/1244440 (application/pdf)
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:oup:ajagec:v:79:y:1997:i:3:p:1013-1023

Access Statistics for this article

American Journal of Agricultural Economics is currently edited by Madhu Khanna, Brian E. Roe, James Vercammen and JunJie Wu

More articles in American Journal of Agricultural Economics from Agricultural and Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().