Sample Selection Bias and Theoretical Validity Tests of the Non-Use Value of an Environmental Good

Shabbar Jaffry

Working Papers from Portsmouth University - Department of Economics

Abstract: This paper addresses the issue of sample selection bias in theoretical validity tests of willingness to pay (WTP) estimates of the use-value of an environmental good. Theoretical validity assesses the extent to which findings of a Contingent Valuation (CV) survey are consistent with theoretical expectations. Theoretical validity tests of a CV study carried out by estimating a separate probit function for payment principle question and a WTP function produces biased estimates.

Keywords: ENVIRONMENT; TESTS (search for similar items in EconPapers)
JEL-codes: Q26 (search for similar items in EconPapers)
Pages: 22 pages
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:fth:portec:116

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