A Pseudo-Sequential Choice Model for Valuing Multiple Environmental Policy or Program Components in Contingent Valuation Applications

Dmitriy Volinskiy, John Bergstrom and Christopher Cornwell

No 19109, 2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The study proposes a discrete-choice model for environmental policy/program valuation, to be used in cases when several policies are valued sequentially. The stochastic specification of the model is consistent with the transitivity and continuity axioms of utility analysis. An empirical methodology for the model is suggested. An application of this model to WTP estimation for Little Tennessee River watershed ecosystem restoration is provided. Findings from the application agree with the hypothesized agent's behavior.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 15
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea05:19109

DOI: 10.22004/ag.econ.19109

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