Modifying willingness to pay estimates where respondents mis-report their preferences

Kelvin Balcombe, Alastair Bailey, A. Chalak and Iain Fraser

Applied Economics Letters, 2008, vol. 15, issue 5, 327-330

Abstract: The likelihood for the Logit model is modified, so as to take account of uncertainty associated with mis-reporting in stated preference experiments estimating willingness to pay (WTP). Monte Carlo results demonstrate the bias imparted to estimates where there is mis-reporting. The approach is applied to a data set examining consumer preferences for food produced employing a nonpesticide technology. Our modified approach leads to WTP that are substantially downwardly revised.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:15:y:2008:i:5:p:327-330

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DOI: 10.1080/13504850600706123

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