The treatment of income variable in willingness to pay studies

Wipon Aiew, Rodolfo Nayga and Richard Woodward

Applied Economics Letters, 2004, vol. 11, issue 9, 581-585

Abstract: This paper evaluates income variable specification and functional form issues in contingent-valuation studies using the utility-theoretic approach. Applying data from a study of willingness to pay for irradiated beef, results suggest that functional form does affect the estimates, but variable specification does not introduce statistically significant differences.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:11:y:2004:i:9:p:581-585

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DOI: 10.1080/1350485042000228817

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