 Minimax D-optimal designs of contingent valuation experiments: willingness to pay for environmentally friendly clothesEllinor Fackle-Fornius and Linda Anna W�nstr�m Journal of Applied Statistics, 2014, vol. 41, issue 4, 895-908 Abstract: This paper demonstrates how to plan a contingent valuation experiment to assess the value of ecologically produced clothes. First, an appropriate statistical model (the trinomial spike model) that describes the probability that a randomly selected individual will accept any positive bid, and if so, will accept the bid A, is defined. Secondly, an optimization criterion that is a function of the variances of the parameter estimators is chosen. However, the variances of the parameter estimators in this model depend on the true parameter values. Pilot study data are therefore used to obtain estimates of the parameter values and a locally optimal design is found. Because this design is only optimal given that the estimated parameter values are correct, a design that minimizes the maximum of the criterion function over a plausable parameter region (i.e. a minimax design) is then found. Date: 2014 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:japsta:v:41:y:2014:i:4:p:895-908 Ordering information: This journal article can be ordered from DOI: 10.1080/02664763.2013.858670 Access Statistics for this article Journal of Applied Statistics is currently edited by Robert Aykroyd More articles in Journal of Applied Statistics from Taylor & Francis Journals |
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