Interval bidding in a distribution elicitation format

Pierre-Alexandre Mahieu (), Jason Shogren and Pascal Gastineau
Additional contact information
Pierre-Alexandre Mahieu: LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - IEMN-IAE Nantes - Institut d'Économie et de Management de Nantes - Institut d'Administration des Entreprises - Nantes - UN - Université de Nantes
Pascal Gastineau: IFSTTAR/AME/EASE - Environnement, Aménagement, Sécurité et Eco-conception - IFSTTAR - Institut Français des Sciences et Technologies des Transports, de l'Aménagement et des Réseaux - UNAM - PRES Université Nantes Angers Le Mans
Authors registered in the RePEc Author Service: François-Charles Wolff

Post-Print from HAL

Abstract: Interval bidding allows people to report a range of values for a non-market good. Herein, we allow people to choose their distribution over this range endogenously. We consider a multiplicative error model explaining the willingness to pay (WTP) which is estimated using a feasible generalized least squares estimator. We apply our framework to a representative sample of the French population who were asked about the valuation of a bear conservation programme. We find that most participants prefer stating their WTP as a range rather than a point, but the shape of the distribution greatly varies across people. Our results support the use of the interval bidding with endogenous distribution approach in valuation studies.

Keywords: Contingent valuation; Uncertainty; Distribution format; Feasible generalized leasts squares; Economie; Analyse de la valeur (search for similar items in EconPapers)
Date: 2017-01-01
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Published in Applied Economics, 2017, 49 (51), pp.5200-5211. ⟨10.1080/00036846.2017.1302065⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Interval bidding in a distribution elicitation format (2017)
Working Paper: Interval Bidding in a Distribution Elicitation Format (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01576239

DOI: 10.1080/00036846.2017.1302065

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().